Simple Fee: the program adds more items and improves rates

The Ministry of Industry and Commerceunder the orbit of the Ministry of Economy, introduced modifications to the “Simple Fee” Program. This program, as its name indicates, seeks to promote domestic consumption by offering financing facilities for the acquisition of various goods and services. The novelty is that it adds more items and “best rates“, according to the official text.

The Rresolution 283/2024 details various categories of goods and services that can be purchased through the program, including white goods, clothing, footwear, educational products, and bookstore itemsamong others.

The list of new products and services that are incorporated into the Program to Promote the Consumption and Production of Goods and Services, called Simple Quota, includes:

• Spas (within the Tourism category)
• Home textile products (bedding, pillows, curtains, etc.)
• Bookstore items (notebooks, pencils, backpacks, etc.)
• school shoes (production outside the national territory)
• Other leather goods (production outside the national territory)

This inclusion seeks to diversify the offer and increase access to goods and services with preferential financing.

What are the main changes?

• Expansion of items: New products and services are included in the program, such as spas, home textiles, bookstore items and school shoes (even imported ones).
• Adaptation to the season: The inclusion of spas is clearly aimed at encouraging consumption during the summer season.
• Integration of imported products: Financing of certain imported products is allowed, such as stationery and school shoes, as long as they meet legal requirements.
• Rate adjustment: The way of calculating financing rates is updated, linking them to the Central Bank’s monetary policy rate.

All goods and services mentioned may be purchased in 3, 6, 9 and up to 12 fixed installments with bank credit cards. With the new addition, the program covers a universe of 36 categoriesamong which is: Tourism, Notebooks and Tablets, Appliances, Lighting fixtures, Glasses and contact lenses, Bookstore items, Bookstore items, Bicycles, Footwear and leather goods, Mattresses, Computers, Durable kitchen items, Medical equipment, Shows and Cultural events , Clothing and Musical instruments.

Also includes Toys, Books, Machinery and Tools, Motorcycles, Furniture, Tires, accessories and spare parts, Small Appliances, Perfumery, Educational services, Kit for home connection to water and sewage services, Sports preparation services, Training services repairs, Motor vehicle and motorcycle repair shops, Cell phones with 4G and 5G technology, Televisions and monitors, Construction materials and tools, Personal Care Services, Alarm installation services, Event and trade exhibition organization services, Kits for connection to satellite internet services and electronic security.

What is the objective of these changes?

As mentioned in the official text, the main objective is to further stimulate domestic consumption and promote economic activity in various sectors. By expanding the list of financed products and services, and by offering more attractive conditions, more consumers are expected to be tempted to make purchases.