PRODUCTS
Control System for Recof – Customs Regime of Industrial Warehouse under Automated Control
Recof Sys is a control system developed by Softway for RECOF – Special Customs Regime of Industrial Warehouse under Automated System. The system controls the import and acquisition operations regime in the local market with tributary suspension for goods that will be industrialized and exported.
It covers RECOF controls for all the modules (IT/Telecommunications, Semiconductors, Aeronautical, and Automotive), and meets all the requirements described in the Normative Instruction that governs the special regime, as well in latest COANA/COTEC Declaratory Act, specially regarding to rendering accounts for goods admitted by this special regime.
Recof Sys is entirely automatic in reading and extracting data both from corporate and SISCOMEX systems, both for import and export operations.
Softway has large experience in RECOF regime, with about 40 customers in operation or under implementation of its system.
About RECOF Regime:
In RECOF, the production components are admitted in the country or acquired in the local market with tributary suspension. If the production target is exportation, the company is exempted from the taxes that have been suspended. On the other hand, if the production target is the local market, the suspended taxes and contributions related to imported products should be paid until the fifth working day of the month after the finished product billing.
Another benefit of the system is that the company can sell goods with no industrialization into local or external market, provided that the minimum industrialization volume defined by RECOF regulations is met.
In order to obtain the regime benefits, the company should meet fiscal aptitude requirements, and assume a minimum annual export volume (according to the industry), as well as a percentage for imported and exported values.
Another important benefit for RECOF qualified companies is the beneficiary substitution for goods admitted under the system, provided that the new beneficiary is also qualified for the regime. In other words, this feature allows an essentially importing company to transfer its manufactured product with goods admitted by RECOF to another qualified company, keeping the taxes and contributions suspended until this second company targets its final product.
This co-qualified beneficiary operation is similar to an export transaction. The primary importer company uses the values in order to meet the annual exportation volume required to its inclusion and permanence in RECOF.
FOLLOWING IS A SUMMARY FOR RECOF MAIN BENEFITS:
• Allows for importing all the components with II, IPI, and PIS/Cofins suspension, in addition to AFRMM tax;
• Suspension or deferral of ICMS (RESE SP);
• National purchases with IPI, PIS, and Cofins suspension;
• Allows for the transfer of beneficiaries or vendor co-qualification;
• Offers one year of tributary suspension, which can be extended for one year;
• The payment of taxes for nationalized products occurs up to the 10th day of the month after the sales – it improves the cash flow for sales in the local market;
• Allows for concurrent use with Drawback (if necessary);
• Tax suspension changes to export exemption;
• Allows for sales in local market, or exportation of up to 20% of imported products, without any industrialization. This percentage can be 30%, depending on the export volume;
• Reduction in tax for air storage;
• Reduction of storage expenditures in ports or dry ports, through negotiation or due to the fact that the clearances will occur in the first period;
• Virtually no Customs checks are required for export operations;
• Reduction in the import clearance time due to the preferred green channel, because of the connection to Linha Azul express dispatch (average of four to six hours);
• Significant reduction in the company inventory, since the whole clearance process is easier;
• Admitted goods can be sent abroad for tests, repairs, restoration, and demonstrations, while keeping the suspended status (AMBRA);
• Softway RECOF solution can offer some additional modules, by providing the customers with more benefits, such as:
- Shared module;
- Co-qualified module;
- Archive module;
- RESE Module (SP):
- Intermediate Drawback Module;
- Accountancy Module.
Contact us so that we can prepare a business case for RECOF usage.
For more information, access www.recof.com.br
Lear more about AER - Association of Companies use RECOF:www.aer.org.br
