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Brazil's Tax and Trade Policies under the Rousseff - Brazil-US ...

Brazil's Tax and Trade Policies under the Rousseff - Brazil-US ...

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O<strong>the</strong>r <strong>Tax</strong>esState <strong>Tax</strong>esICMS VAT <strong>Tax</strong>: levied on sales of goods; inter-municipal <strong>and</strong> inter-state transportationservices; <strong>and</strong> communication services• IPVA: levied on <strong>the</strong> property of vehicles• ITCMD: levied on <strong>the</strong> value of goods <strong>and</strong> rights conveyed by donation (as a gift tax) orestate succession (as a death tax), at a rate to be determined by each <strong>Brazil</strong>ian stateMunicipal <strong>Tax</strong>es• ISS: levied on general services, which are not subject to ICMS taxation• IPTU: in general terms, it is levied in respect of <strong>the</strong> ownership, control or possession ofurban l<strong>and</strong> or buildings, based on <strong>the</strong> market value of such real estate• ITBI: levied on <strong>the</strong> sale, purchase or assignment of real estate or of rights related

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