President sanctions MP that reduces tax on aircraft leasing

President Jair Bolsonaro sanctioned the provisional measure (MP) that provides for the reduction of the Withholding Income Tax (IRRF) rates on leasing operations (leasing) of aircraft and engines. The MP, published by the government in January this year, is aimed at companies in the regular passenger or cargo air transport sector. It was approved two weeks ago by the Federal Senate, in the final process. President sanctions MP that reduces tax on aircraft leasingPresident sanctions MP that reduces tax on aircraft leasing

The tax reduction will last for a maximum of five years. The text provides that the rate will be reduced from 15% to zero in the next two years, retroactively to January this year until December 2023. From 2024, the rates will have a gradual increase of 1% per year. That is, it will be 1% in 2024, 2% in 2025 and finally 3% in 2026.

O leasing Aeronautics works like a lease made by banks, finance companies and companies to airlines. Aircraft owners rent them to airline operators, who pay a monthly fee for the use of the asset and are responsible for the operation and maintenance. Most of these companies in Brazil and around the world operate with leased aircraft.

“The measure is relevant because it alleviates the high operating cost of airlines, and can contribute to the resumption of the Brazilian air transport sector in the post-covid-19 pandemic. of the airlines with the leasing of aircraft and engines, which also represents another component to pressure the price of air tickets and reduce the growth potential of the sector”, argued the General Secretariat of the Presidency, in a note sent to the press. to publicize the sanction, which will be published in an edition of the Official Gazette (DOU) this Wednesday (1st).

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