Brazil Extends 12% Oil Export Tax to Dec 31
11 Articles
11 Articles
The Chamber of Foreign Trade (Camex) decided to extend until 31 December the 12% rate of the export tax on crude oil, said a source to the Value. This will be the third time that the government extends the tax charge, whose current validity would end on Saturday (7). On 9 July, after losing the validity of the interim measure (MP) that instituted a 12% rate on the export of crude oil and 50% on the sale of diesel abroad, the Executive Committee …
The Ministry of Development, Industry and Trade (Mdic) extended until 31 December the levy of 12% on the export of crude oil and bituminous minerals. The measure starts to apply this Saturday, 7, and the government justifies the decision with the need to finance subsidies for diesel and gasoline. The government created the tax in March, when it raised from zero to 12% the aliquot on oil exports. The initiative incorporated a package to contain t…
The government of re-elected President Luiz Inácio Lula da Silva introduced this tax in March to offset the fiscal cost of fuel subsidies
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