Brazil Congress Panel Approves End of 20% Import Tax on Sub-$50 Purchases

A congressional mixed commission approved a provisional measure ending the 20% import tax on international purchases up to US$50, reversing a tax introduced in August 2024 after retailer pressure. The measure now heads to floor votes in both chambers, with passage likely given the commission's approval. This shift signals a policy reversal favoring consumers and cross-border e-commerce, potentially impacting domestic retailers and fiscal revenues.