The Common External Tariff – TEC – was negotiated in 1991 under Asuncion Agreement, and its application was implemented by the four MERCOSUR Member States, Brazil, Argentina, Uruguay and Paraguay, from 01/01/95.
Although import duty applied by Member States are common, it still exists mechanisms that allow the Common External Tariff – TEC to be amended. There are two types of amendments: temporary and permanent. If the modification is permanent, it will be uniformly applied by all Member States. Being a temporary change lasting six months or twelve months, renewable for the same period, the product code is included in the LETEC – Common External Tariff Exception List – maintained by each Member State.
While permanent changes are reviewed by MERCOSUR Technical Committee No. 1 – “Tariffs, Nomenclature and Classification of Goods” composed by technical staff of each Member State, temporary changes are unilateral, but before the implementation other Member States are informed of such decision.
The import duty may also be reduced due to shortage in a Member State, even though a limit of 45 HS positions is imposed to each of them. In this case the import duty may be reduced to 2% (exceptionally to 0%), linked to a quota for a period of 12 months.
The Common External Tariff – TEC – was negotiated in 1991 under Asuncion Agreement, and its application was implemented by the four MERCOSUR Member States, Brazil, Argentina, Uruguay and Paraguay, from 01/01/95.
Although import duty applied by Member States are common, it still exists mechanisms that allow the Common External Tariff – TEC to be amended. There are two types of amendments: temporary and permanent. If the modification is permanent, it will be uniformly applied by all Member States. Being a temporary change lasting six months or twelve months, renewable for the same period, the product code is included in the LETEC – Common External Tariff Exception List – maintained by each Member State.
While permanent changes are reviewed by MERCOSUR Technical Committee No. 1 – “Tariffs, Nomenclature and Classification of Goods” composed by technical staff of each Member State, temporary changes are unilateral, but before the implementation other Member States are informed of such decision.
The import duty may also be reduced due to shortage in a Member State, even though a limit of 45 HS positions is imposed to each of them. In this case the import duty may be reduced to 2% (exceptionally to 0%), linked to a quota for a period of 12 months.
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