Customs duty
Customs duty is a tariff or tax that is imposed on specific commodities, financial
transactions, or goods purchased abroad.
Brazil specifics
Import tax (II) is the levy that aims to protect domestic industry by taxing imports in unfair competition with domestic products.
The II is levied upon the nationalization of the goods. Rates vary according to the NCM code of each product, which is based on the Harmonized System codes (HS Codes).
Typically, an average rate for the II is 14%. The import tax is not creditable for the importer, and may not be used to offset other tax liabilities. There are no import duties on services.
How Infor meets this requirement
See the Requisition User Guide.
For purchase order processing, see the Purchasing User Guide.
For creating match invoices, see the Match User Guide.
For add on charges, see the Supply Management Setup and Administration Guide.