Brazil to Modernize Foreign Trade Operations by Introducing New Single Export Declaration
The Brazilian Secretariat of Federal Revenue (SRF – Secretaria da Receita Federal), the Secretariat of the Ministry of Finance, and the Secretariat of Foreign Trade (Secex – Secretaria de Comércio Exterior) of the Ministry of Industry, Foreign Trade and Services (MDIC – Ministério da Indústria, Comércio Exterior e Serviços), published, on March 21, 2017, Joint Ordinance 349, establishing the Single Export Declaration (DU-E – Declaração Única de Exportação), an electronic document including customs, administrative, commercial, financial, fiscal and logistic information, replacing the old Export Register, Export Declaration and Simplified Export Declaration.
The new Single Export Declaration aims to modernize the system of foreign trade operations and simplify the process of external sales by eliminating documentation and requirements. It will be processed through Portal Siscomex, and the process is regulated by SRF’s Normative Instruction 1.702 and Secex’s Ordinance 14. The main benefits of the new procedure include elimination of various procedural steps, such as duplicated authorizations of separate documents, entail integration with electronic invoice and will involve around 60% less of data filling. It is estimated, that after the completion of the implementation, the Single Export Declaration will reduce the average export and import time by up to 40%. At first, the implementation will affect air transportation exports, while the project is expected to be fully implemented along 2017.
According to recent statements made by the Minister of Industry, Foreign Trade and Services, Mr. Marcos Pereira, the introduction of the new export procedure elevates Brazil to a new level with regard to international trade relations and shows its commitment to opening up its market. Moreover, a study conducted by the Getúlio Vargas Foundation, one of Brazilian most renowned universities, shows an increase of US$23.8 billion in Brazil’s GDP in the first year of full implementation of the new exportation procedure, and an annual increase of up to 7% in the Brazilian imports and exports. In addition, it is expected that procedure will contribute to diversification of exports, with gradual increase in the manufacturing industry exports, from 10.3% in 2018 to 26.5% in 2030.