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Amendments to the Repetro-Sped regulation

The Repetro-Sped (IN RFB 1,778/2017), the special tax and customs regime for the economic use of goods destined to exploration, development and production of oil and natural gas, as well the Temporary Admission (IN RFB 1,600/2015) and the former Repetro regimes (IN RFB 1,415/2013), were amended by Normative Instruction RFB 1,880, published on 5 April 2019.

Some of the changes introduced by the amendment were already long wanted by the market, such as the inclusion of PSV (platform supply vessels) in the list of Annex II of IN RFB 1,781/2017, enabling the importation of such vessels through temporary admission for economic use with the suspension of federal taxes.

The newly introduced regulation also henceforth allows the proportional reduction of the customs value of goods definitively imported, in cases of loss (including lost in hole), disablement or consumption, as well as damage (for fire, collision, shipwreck, tidal waves, and alike). For goods imported through temporary admission, the reduction shall apply in the event of damage.

Several other changes were introduced to improve regulation (such as the distinction between the tax regimes provided for in Law 13,586/2017 and customs regimes dealt with in Decree-Law 37/1966), or to simplify procedures related to Repetro-Sped and ancillary fiscal obligations.

IN 1,781/2017, as amended by IN 1,880/2019, is available on the Brazilian Federal Revenue website, in Portuguese, through this link.

Leal Cotrim is available to assess the effects of the changes to the Repetro-Sped regime, resulting from IN 1,880/19, on any particular scenario.

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April 11, 2019