The Ministry of Agriculture has prepared a set of measures aimed at supporting the ethanol industry which has been particularly hard-hit by the COVID-19 crisis. The main points are: Creation of a credit line for the storage of 6 bln litres of ethanol (estimated cost: BRL9 bln); Increase in the Cide tax on gasoline from BRL0.10 to BRL0.50 per litre; Reduction of the PIS/Cofins tax rate to zero (from BRL0.13 per litre for producers and BRL0.11 for distributors); Re-assessment of the tax rate on Decarbonization Credits (CBio) which is currently at 15%.
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