::: ICMS TAX REDUCTION
JAYFEX was allowed by the State of Santa Catarina a special treatment regarding the ICMS (VAT equivalent). The main advantage is the ICMS reduction to 4% and a tax credit of 12%. Based on this legal device, all companies subcontracting their import operations to JAYFEX can benefit from considerable tax cuts, besides of having reduced their cash flow needs when nationalising a product.