The federal government calculates that the measures announced on Monday (6) to reduce the price of fuel should have an impact of R$ 40 billion for the federal coffers.
According to reports made to CNN by government officials, the amount has been estimated by the economic team and includes both the exemption from PIS/Cofins and Cide on gasoline and ethanol as well as compensation to state governments for not charging ICMS on oil. diesel and cooking gas.
The exemption from PIS/Cofins and Cide, according to palace advisors, should be around R$ 15 billion, while the compensation with ICMS zeroed for diesel and gas should reach a tax waiver of over R$ 25 billion.
The final text of the proposal should be presented later this month, after the approval of a project that establishes a ceiling of 17% on ICMS, and it is expected that it will provide a kind of compensation fund valid until the end of this year and that be fueled by extraordinary revenues, such as those from the nationalization of Eletrobras.
If approved, the proposal would be valid until December 31.
The measure, according to the federal government’s own calculations, could reduce the price of a liter of diesel by around R$0.82. Gasoline, in turn, could have a decrease in the price of a liter of R$ 1.20.
According to experts heard by CNN, however, in addition to the current lag in fuel prices, which may reduce the impact of the reduction, there is room for price increases in the coming months.
In the case of gasoline, the rise in the barrel of oil, the war in Ukraine, the exchange rate and the summer in the northern hemisphere could put even more pressure on the price.
Regarding diesel, Petrobras has already informed the federal government about the risk of shortages in the second half, which may lead the state-owned company to raise the value to avoid a shortage.
Source: CNN Brasil
