Brazilian gem and jewelry exporting companies celebrated, last December 8, the important achievement of the publication of Normative Instruction No. 2049, which stipulates 720 days, extendable for an equal period, for the return of unsold goods to Brazil or definitive export of those sold abroad. The new IN is the result of a collective effort between IBGM – Brazilian Institute of Gems and Precious Metals, partner of ApexBrasil – Brazilian Export and Investment Promotion Agency in the sectorial project Precious Brazil; Sindijoias AJOMIG and the Internal Revenue Service.
According to Samuel Sabbagh, Vice President of International Relations at IBGM, this new normative instruction corrects the mismatch between the sector’s commercial practices and IN No. 1850/2018, which stipulated the sale of exported goods on consignment within 180 days, counted from the date of customs clearance, and if commercialization did not take place, the return of the goods to the country should be done within 210 days after customs clearance for export. “This procedure was impractical given the process of selling a gemstone as well as a gem. It is common for these pieces to spend more than a year circulating at events and being presented in showcases until the purchase is made”.
Sabbagh also highlights that the sector’s mobilization with representatives of the Federal Revenue of Brazil began in August 2020, when the IBGM, in partnership with Sindijoias AJOMIG, represented by the Câmara de Gemas, promoted the first meeting to align with practical procedures related to the transport of goods in hand for export purposes, based on normative instruction RFB No. 1850/2018. This initiative began the fruitful relationship built with the body, which allowed for discussion of both the procedures and the text of the aforementioned regulation. “Over the course of a year, the sectorial entities provided a very good foundation for the request to change the IN. The work meetings allowed the IBGM to build a consistent diagnosis, based on numbers and real experiences of businessmen. This institutional arrangement strengthened the case before the regulatory body, showing that the measure would, in fact, serve a production chain”.
RFB Normative Instruction No. 2049/2021 is available in full on the IRS website (click here). Additional information can be found at https://preciousbrazil.com/ and on Instagram @precious.brazil.
About ApexBrasil
The Brazilian Export and Investment Promotion Agency (ApexBrasil) works to promote Brazilian products and services abroad and attract foreign investment to strategic sectors of the Brazilian economy. The Agency carries out diversified commercial promotion actions, such as prospective and commercial missions, business roundtables, support for the participation of Brazilian companies in major international fairs, and visits by foreign buyers and opinion makers to learn about the Brazilian productive structure.
About Precious Brazil
The Sectorial Project aims to support and promote Brazilian companies in the segments of Brazilian stones, costume jewelry and jewelry that want to export their products, whether they are startups, exporters or internationalized. Conducted by the IBGM – Brazilian Institute of Gems and Precious Metals in partnership with ApexBrasil – Brazilian Export and Investment Promotion Agency – the project currently serves around 50 companies in the sector.
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