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The General Secretariat of the Presidency reported on Monday (1st) that President Jair Bolsonaro issued a decree in which he reduced the PIS and Cofins rates that were levied to zero. diesel and cooking gas.
According to the Planalto Palace, the decree will be published in the “Official Gazette”. The secretariat also reported that:
- the measure on diesel is worth March and April;
- the cooking gas decision has no deadline and it goes by containers of up to 13 kilos.
According to information from Petrobras, the data collected between January 31 and February 6 of this year show that the price of cooking gas has the following composition:
- 47%: costs of the gas itself;
- 35%: cost of distribution and resale;
- 15%: ICMS, state tax;
- 3%: federal taxes (PIS / PASEP and Cofins).
The price of diesel, according to data from Petrobras based on S-10 diesel, the composition is given as follows:
- 49%: cost of fuel at Petrobras;
- 15%: distribution and resale;
- 14%: ICMS (state tax);
- 13%: cost of biodiesel;
- 9%: federal taxes (Cide-Combustíveis), PIS / Pasep and Cofins.
Fiscal Responsibility Law
Article 14 of the Fiscal Responsibility Law establishes that the granting or extension of a tax benefit that results in an income exemption must be compensated “by increasing the collection, derived from the increase in rates, expansion of the calculation base, increase or creation of tribute or contribution “.
According to the General Secretariat, to compensate for the income exemption, Bolsonaro issued a Provisional Measure (MP) in order to:
- “increase” the Social Contribution to Net Income (CSLL) of financial institutions;
- “change” the IPI rules for the purchase of vehicles by people with disabilities;
- terminate the Special Regime for the Chemical Industry (REIQ).
The provisional measures have the force of law from their publication in the “Official Gazette”. However, they must be approved by the National Congress to become final laws.
“The decrease in PIS / Cofins in diesel and gas for residential use will result in a reduction of the tax burden of R $ 3.67 billion in this sector in 2021. For 2022 and 2023, the reduction of taxation on gas will result in a decrease in collection of R $ 922.06 million and R $ 945.11 million, respectively ”, informed the General Secretariat.
“Considering that the measures are being duly compensated, this benefit will not imply a reduction in the total collection of the Union”, added the folder.
Petrobras convenes Assembly to remove Castello Branco from the presidency of the state company
On February 18, when making a live broadcast on a social network, President Jair Bolsonaro stated that he would do zero taxes, without giving details, which was criticized by the Independent Fiscal Institution (IFI), linked to the Senate.
On the same day that he announced the reduction of tax rates to zero, Bolsonaro criticized Petrobras and the fuel readjustments. A day later, he announced the appointment of General Silva e Luna, director of Itaipu, to the presidency of Petrobras in place of Roberto Castello Branco. The nomination must be approved by the State Board of Directors.
Bolsonaro’s announcement was poorly received by analysts and former allies of the president. At that time, the shares of the state company fell on the Bovespa and the New York Stock Exchange (USA); Petrobras lost more than R $ 75 billion in market value; and the dollar went up.
In a speech at the Planalto Palace on February 23, Bolsonaro said he does not want to “fight” with Petrobras, but demanded more “predictability” from the state company.
