BUYER’S GUIDE · 05
What importing a watch
really costs
The arithmetic is neither secret nor hard. What confuses people is that it does not start at the listed price, and that one of the taxes falls on itself.
The arithmetic starts before the price
Everything rests on the customs value, and that is not the price of the watch. It is the sum of three parts:
- Goods. The invoice value.
- Freight. International, up to the point of entry.
- Insurance. Where taken out.
Hence the first surprise: expensive express freight does not cost only the freight. It raises the base on which every tax is calculated.
The rates in force
For declarations registered from 12 May 2026, under Provisional Measure 1,357/2026 and Ministry of Finance Ordinance 1,342:
On a site certified under Remessa Conforme
Up to US$ 50: import duty zero.
From US$ 50.01 to US$ 3,000: 60%, with a US$ 30 discount.
Taxes are paid at checkout and release tends to be quicker.
Outside the programme
From US$ 0.01 to US$ 3,000: 60%, with no discount at all.
Payment falls due after arrival, through the postal or courier site.
On top of that comes ICMS, the state tax, at 17% to 20% depending on the state, in both cases.
The detail almost nobody explains
Brazilian import ICMS forms part of the base it is calculated on. It is not 17% of the customs value plus the import duty — it is 17% of a total that already contains the ICMS. The formula:
ICMS = (customs value + duty) × rate ÷ (1 − rate)
A nominal 17% therefore works out at roughly 20.5% of the preceding sum. It is not a trick by anyone: it is how the tax was designed. It simply does not show up in the arithmetic the listing displays.
A whole calculation, with figures
A US$ 1,000 watch, US$ 60 freight, no insurance, bought outside Remessa Conforme, delivered in a state charging 17% ICMS:
- Customs value: 1,000 + 60 = US$ 1,060
- Import duty: 60% of 1,060 = US$ 636
- ICMS base: (1,060 + 636) ÷ 0.83 = US$ 2,043.37
- ICMS: 17% of 2,043.37 = US$ 347.37
- Total cost: US$ 2,043.37
Tax came to US$ 983.37 on a thousand-dollar watch — about 93% of the customs value. Bought on a site certified under Remessa Conforme, the US$ 30 discount on the duty brings the total to US$ 2,007.23.
Why this changes with who imports
When the shop imports and resells, these figures are already in the shelf price. Currency movement, tariff classification, a hold at customs — all of it is the importer’s risk.
When the buyer imports, the listed price is only the first instalment. The rest arrives later, calculated by third parties, and it arrives for the buyer.
Check the date before using these figures. This page was written in September 2026 and Provisional Measure 1,357/2026 still requires conversion into law by Congress. Tax rules move, and a page that does not say when it was written does not deserve your trust — this one included.
Why we are the ones writing this
Coroa is being incorporated to act as the importer of record for independent brands in Brazil — customs clearance in its own name, a goods invoice issued to the buyer, and after-sales service in the country. We have a direct interest in this subject and it would be dishonest not to say so. It is also true that we have not imported anything yet: no stock, no catalogue, nothing to sell today.
This page holds whether you buy from us or from anyone else. Ask us exactly the same questions. If one day Coroa’s answer is not the one written here, this text counts against us too.