Rapporteur proposes changes in PL that create tax on oil exports

Project rapporteur, Jean Paul Prates (PT-RN) | Photo: Edilson Rodrigues / Senate Agency

Senator Jean Paul Prates (PT-RN) tabled on Monday (29) a new opinion on Bill 1472/2021, which modifies the fuel price policy practiced by Petrobras. In his second report, the congressman slashed rates for a new tax on crude oil exports, which will fuel a fund to stabilize the value of derivatives at stations. The bill will be voted on this Tuesday (30) in the Senate Economic Affairs Committee.

In the original proposal, drafted by Senator Rogério Carvalho (PT-SE), taxation would reach up to 20% for a barrel of exported oil valued above US $ 60. In its first substitute, Prates proposed rates that would reach 50% on the portion of the product over $ 70. From now on, a barrel sold up to $ 80 would be exempt. The portion exceeding US $ 80 and less than or equal to US $ 100 would be taxed at 7.5%, while the portion exceeding US $ 100 would be taxed at 12.5%.

Also according to the new proposal, the value of crude oil imports can be deducted from the tax calculation basis, provided that the product is refined in the country by the same exporting legal entity and during the same period.

In addition to the export tax, the rapporteur added three possible sources of financing for the fund, leaving it to the executive to define their use: the Petrobras dividends owed to the Union; government participation resulting from the production concession and sharing regime; and the financial surplus from freely invested sources available in the Union’s balance sheet.

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