The approval by the Federal Senate of the bill that temporarily cuts taxes on fuel has an impact to reduce by up to two to haveThe readjustment of diesel at the pumps is underway, said the Minister of Economy, Paulo Guedes, a short while ago. Alongside the Minister of Mines and Energy, Bento Albuquerque, Guedes thanked the senators for approving the bill on the subject.
“We were able to mitigate in two to haveThe impact is felt,” the minister told reporters after a meeting with Albuquerque that was not on the official agenda. According to Guedes, the government is committed to minimizing the costs of the war between Russia and Ukraine for consumers.
“Instead of passing on all these costs of the oil war to our consumers, what we did was precisely an initiative by President Bolsonaro to share these costs. The federal government will reduce the tax. That is, it was even a happy coincidence, right? ?” he added.
According to Guedes, the reduction of the Social Integration Program (PIS) and the Contribution to the Financing of Social Security (Cofins) will reduce the price of a liter of diesel by R$ 0.33. The reduction of the Tax on the Circulation of Goods and Services (ICMS) will mean a cut of BRL 0.27 in the final price, for a total savings of BRL 0.60. As Petrobras announced today readjustment of R$ 0.90 in diesel, the measures reduce by two to havethe impact of the readjustment on the pumps.
Absorbing the impacts of war
In thanking the senators, the minister said that the government had managed to absorb the “first shock” of the conflict between Russia and Ukraine. “We want to thank the Senate for their excellent work. There is a war on the other side of the world, and when this impact reaches Brazil, there is this increase [de preços]”, declared Guedes.
Sent to the Chamber of Deputies, the complementary bill approved by the senators will zero PIS/Cofins for diesel, cooking gas and aviation kerosene by the end of 2022. The text also determines that the states and the Federal District cover a single ICMS rate for each type of fuel and change the charging system to a fixed amount per liter, instead of a percentage of the final price. The ICMS measures apply to gasoline, ethanol, diesel, biodiesel, cooking gas and aviation kerosene.
Also today, the Senate passed a bill that creates a stabilization bill for fuel prices. A fund made up of dividends paid by Petrobras to the Union, excess revenue and other financial assets would be used to temporarily subsidize fuel prices in the event of significant increases.
