In an interview with CNN this Thursday (10th), Virginia Parente, professor at the Institute of Energy and Environment at USP, stated that the ICMS (Tax on the Circulation of Goods and Services) is a very important revenue for the states.
On Thursday afternoon (10), the Senate approved the basic text of the project that changes the ICMS charge on fuels, as a way of trying to control the rise in fuel prices. But, according to the expert, some states are more dependent on this taxation than others.
“This type of tax is a net tax, certain and easy to collect and a significant part of it actually goes to the states. It turns out that when gasoline goes up, as it is a percentage of this value, this taxation also goes up. So, do the states need to follow this rise, which is already at very high levels?”, Parente said.
See more in the video above
Source: CNN Brasil
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
