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Brazil Senate passes bill that includes tax exemption for diesel to lower price of fuel



By Reuters

Petroleumworld 05 30 2018

Brazil's Senate passed a bill on Tuesday that includes an exemption of diesel from the PIS/Cofins payroll and social security tax, a pledge made by the government to striking truckers to lower the price of the fuel.

President Michel Temer, however, is expected to line veto the diesel provision inserted by the lower chamber because it did not cut the price by the 46 cents per liter agreed upon. The government will still have to find a way to deliver the price reduction.


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Reporting by Anthony Boadle Editing by James Dalgleish from Reuters 05 29 2018

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