What are FCIs? Understanding the Purpose of Documentation Written by Andrea Cortez
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Must issue an FCI. It is from there that the federal government controls imports into the country and you keep your business legal. Although it is an important document, few entrepreneurs know what an FCI is and why it is important. Check out our article and clarify your doubts about this document. Utilize and learn about the services of Remessa Online to send money abroad. What are FCIs? The Form of Import Inventory (FCI) is one of the documents that facilitates the registration of company information, which is then analyzed by the federal government. Through this document, it is possible to obtain data on which goods are imported into the country and which sectors depend on such transactions. After all, it contains information that helps determine the percentage of the value of the product imported as input, as well as identify the taxpayer and the goods. Simulate your transfer as a legal entity You receive USD 989,23 We convert to After the registration is approved, the payment will arrive within 1 business day What should be included on the FCI? More important than knowing what an FCI is is knowing what data must be included in the document.
To do this, just refer to Article 5 of ICMS Agreement 38/2013, which lists the information required in the import catalog table. Check out the following: Units of measurement; Total value of interstate departures Commodity or Commodity Code Calculations Imported content Value of parts imported from abroad Or the item's description GTIN code (Global Trade Item Number), if available for the item or item. What is fci and how to fill 1024x683 - What is FCI? Understanding the purpose of the document FCI must be done in the import business. Who needs to fax number list issue the FCI? All traders who use products that contain imported materials in their composition are obliged to provide the FCI, even if they choose Simples Nacional. They are also responsible for invoicing the FCI number corresponding to the product. Furthermore, Article V of the ICMS Agreement 38/2013 requires the regulation of all importers in the industrial sector. Therefore, if manufacturers use imported components or materials to produce goods, they must complete paperwork and submit it to the competent authority.
Who does not need to hand over the FCI? Some departments do not need to present FCI, such as ICMS payers importing materials for their own consumption, with no intention of selling them. As well as companies that sell industrial products in the country. Distributors of final products are also not required to provide the form as long as they use the manufacturer's FCI code for inventory control. In this case, simply send the product key with the invoice. However, if the company does not deliver the documents, it will be penalized by errors in the tax system and fines. By the way, it is important to always understand what the FCI is and the exceptions as they can be repealed or changed by the Bundesrat. FCI Submission Deadlines Typically, import inventory forms must be submitted to the federal government on a monthly basis. By the way, even if the product is not yet on the market, the entrepreneur must complete and send the documents. However, there is no need to resubmit the FCI if there is no change in import volumes in the coming months. How to calculate FCI? Now that you know what an FCI is and what data must appear in the document, it's time to calculate the percentage.