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LATIN AMERICA: "New frontiers: Mexico" report. 4-page report by Ernst & Young.
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backLATINtalk May, 2011
Brazil to Adopt Istanbul Convention's Carnet System
In October, the Brazilian government announced their agreement to adopt the use of carnets, an internally-accepted customs document that facilitates the temporary import of commercial samples, professional equipment and goods for exhibitions and fairs. Officially known as ATA Carnets, the system is jointly managed by the World Chambers Federation (WCF) and World Customs Organization (WCO and the documents are honored by more than 75 countries.
Pending the designation of a government authority to issue and approve carnets, Legislative Decree No. 563 will facilitate trade in many items by eliminating the need to endure extensive customs procedures, pay duties and value-added taxes, and purchase temporary import bonds.
Source: J.P. Morgan - GAI
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