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INVEST UPDATED IMPORTATION

INVEST UPDATED IMPORTATION

As an option to Fundap, the state of Espírito Santo instituted INVEST, through Decree no. 1951-R of 10/27/2007, which is configured in another incentive to foreign trade operations aiming at the continuous growth of the companies located here.

Last year the Invest suffered modifications through the Law 20.550, published at DIO ES of 07/01/2016.

We shall be showing here a brief resume about this tax incentive, already considering the changes instituted by its new legal basis.

What does constitute this benefit?

 The merchandise imported through INVEST will be destined to the Distribution Centers – CD’s, also known as “satellite companies “- in order to execute the distribution of imported products and, in return, the company” Investiana “will benefit from tax incentives, namely:

 • Deferral of ICMS on merchandise imports designated exclusively to the importing establishment for the moment of the internal exit to the Distribution Centers, listed on the Addendum to the agreement of the importer or in the transfer to the Headquarters or to other Branches of the importer itself;

• Reduction on the calculation basis in the internal exits designated, exclusively, to the Distribution Centers – CD’s or to its Headquarters or Branches, in a way that results in a tax burden equivalent to the interstate load to which their products are subject;

• Debit reversal in the amount of 75% (seventy-five percent) of the tax, monthly calculated on the occasion of the internal withdrawals to the Distribution Centers – CD’s or to its Headquarters or Branches, when these transactions are carried out in accordance with the reduction above;

• Reduction of the calculation basis in the internal operations exclusively designated to the Distribution Centers – CD’s or to its Headquarters or Branches, in a way that results in a tax load equivalent to the multiple of 1,2 (one and two tenths) of the interstate load to which their products are subject (and this charge should be highlighted in the respective Invoice);

• Debt reversal of the calculations in a way that the tax burden results in 25% (twenty five percent) of the interstate rate to which the products are subject, on the occasion of the internal exits designated to the Distribution Centers – CD’s or to its Headquarters or Branches, when these operations are carried out in accordance with the (a multiple of 1.2 – one integer and two tenths) interstate load.

The fruition of the benefits are 12 (twelve) years, and only applies with the customs clearance made in the state of Espírito Santo.

In a short way, the requirement must be met by the companies that wish to enjoy from this benefit are the following ones:

• Presentation of the priority economic project and considered of interest for the development of the state of Espírito Santo to be reffered to the INVEST-ES COMMITTEE accompanied by the respective implementation schedule.

• Own warehouse with a minimum storage area of 1 thousand square meters or be located in another Logistics, and must present the Report of the Establishment of Logistics, thus dispensing with the mandatory technical visit for the case of the applicant who installs in a warehouse own.

The deadline for the implementation of the scheduled investment is 12 (twelve) months from the date of publication of the Resolution that approves it.

The detailing of these requirements and the formalities to obtain the framework for the benefits of INVEST-ES are listed in Law 10.550 / 2016 and its amendments and also have scripts and models available on the website of the Secretariat of Development through the link: https://desenvolvimento.es.gov.br/invest-es.

We also inform that our office offers all the services necessary to obtain Invest Importation, since the company’s opening here in the ES (it may be a new company or a subsidiary, including an out-of-state Matrix), through the elaboration of the Invest Importation Project to be presented to Sedes, monitoring of its analysis by the technical team, monitoring of the Sedes / Bandes team during the technical visit, until the conclusion of the process that takes place through the signing of the respective Agreement Term.

The entrepreneur does not even need to come to the ES to follow the process of his process since even the Agreement and Additives can be signed by me, by means of proxy, reducing travel expenses prior to the effective start of operation of the enterprise.