Lula Cuts Fuel Taxes as Oil Prices Rise Ahead of Brazil Election
20 Articles
20 Articles
Lula Cuts Fuel Taxes as Oil Prices Rise Ahead of Brazil Election
Brazil’s Luiz Inácio Lula da Silva announced additional cuts to fuel taxes in a bid to shield consumers from the impact of surging oil prices just weeks before the country’s presidential election.
The government has issued two interim measures to strengthen in R$ 7 billion the budget of the Ministry of Mines and Energy (MME) and the resources earmarked for official credit operations. Most of the resources (R$ 6.605 billion) will go to the Ministry of Mines and Energy to subsidize the import of petroleum derivatives and diesel oil for road use. With the measure, the government wants to reduce the impact on the consumer pocket caused by the…
The federal government opened an extraordinary credit of R$ 6.6 billion to subsidize the production and import of diesel oil and other fuels in Brazil.What HappenedPresident Lula signed the MP (Provisional Measure) 1,389 to release the money.
The federal government announced on Wednesday (9) new measures to try to contain the advance of fuel prices in the face of high oil in the international market. One of them is the decree that reduces by R $ 0.63 per litre the collection of PIS/Passep and Cofins on gasoline. With the change, federal taxes will fall to [...]
Of the total extraordinary credits, R$ 5.6 bil will be applied in the subsidy to the production and import of diesel and R$ 375 mi in the production of food
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