The Financial Espresso "Cross Border Tax Exemption; BTG on AI; Credit fo..."

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The Financial Espresso "Cross Border Tax Exemption; BTG on AI; Credit fo..."

Global Research

13 May 2026ab

The Financial Espresso Equities

Latin AmericaCross Border Tax Exemption; BTG on AI; Credit

for drivers; Rural Debts Renegotiation; Financial

Biometric payments; Porto EVs & Hapvida; KaioAnalystPrato

Argentina's reserves kaio.prato@ubs.com+55-11-3513 6573

Thiago Batista, CFA

Analyst

Lula signs MP and zeroes purchases of imports below US$50 thiago.batista@ubs.com

+55-11-3513 6518

According to Valor, president Mr. Luiz Inácio Lula da Silva has signed a provisional

measure (MP) to eliminate the federal tax applied to imported purchases valued Camila Azevedo

under U$50 in Brazil. The repeal of the tax faced opposition within the government, Associate Analyst

camila.azevedo@ubs.com

particularly from the economic team. According to a study conducted by the

+55-11-2767 6881

National Confederation of Industries (CNI), the tax obstructed the entry of R$4.5

billion worth of imported goods. the tax was a 20% tariff on import duties applied to Bruno Kenji

Associate Analystinternational purchases of up to U$50, established primarily to address tax

bruno.kenji@ubs.com

disparities between foreign platforms and domestic manufacturers. Our take: The

+55-11-2767 6056

removal of the tax is likely to have an adverse impact on MELI, as it could amplify

the competitiveness of Asian competitors. It is worth noting that consumers will Olavo Arthuzo

Analystcontinue to incur the state tax (ICMS), which ranges from 17% to 20% across most

olavo.arthuzo@ubs.com

states. Furthermore, for purchases exceeding US$50, the 60% tax remains +55-11-2767 6306

applicable (here). See more in UBS retail team latest report "Cross-border tax

exemption: now it's for real". Beatriz Shinye

Associate Analyst