Senator Jean Paul Prates (PT-RN) was the rapporteur of the bill that creates a program for stabilizing the price of oil and derivatives in Brazil, presenting a new opinion on the proposal on Tuesday (7), changing the rates levied on the Export Tax on crude oil.
The revenue from this charge will be used to subsidize price stabilization when input values rise. The PL will be voted on this Tuesday by the Economic Affairs Committee (CAE) of the Senate, which began the session with the reading of Prates’ report.
The new opinion brings a maximum tax rate, which will be zeroed until the value of the barrel reaches US$ 45 – the previous version provided that the tax would be valid when the barrel was above US$ 80. Another change is related to the maximum rate, which now it will be up to 20%, against the 12.5% initially forecast.
Under the new definition, the rate will be a minimum of 2.5% and a maximum of 7.5% applied only on the portion of the value of crude oil above US$45 per barrel and below or equal to US$85 per barrel. The rate jumps to a minimum of 7.5% and a maximum of 12.5% when it is applied to the portion of the value of crude oil above US$85 per barrel and below or equal to US$100 per barrel.
In the case of a portion of the amount above US$ 100 per barrel, the rate will be at least 12.5% and at most 20%. “Remembering that, as it is of marginal applicability, the rate will not apply to the total amount, but only to the portion of the price that exceeds the aforementioned amounts”, highlighted the senator in the opinion.
According to Prates, the adjustment in the rates was based on suggestions made by Senator Jaques Wagner (PT-BA), to make the mechanism “more effective”. “We recognize, however, the importance of ensuring predictability to investors, and that is why we propose here minimum and maximum amounts to be charged, available for adjustment by the Executive Branch, seeking to combine regulatory effectiveness and investment protection,” stated Prates.
Through the report, the Executive Branch may change the rates of the Export Tax levied on crude oil, in compliance with the minimum and maximum limits established in the project.
Reference: CNN Brasil
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