Brazil to study fixed tax rate as way to reduce retail fuel prices: Bolsonaro

摘要

Rio de Janeiro—Brazil plans to study a fixed rate for a key state tax on manufactured goods and services as a way to reduce fuel prices, especially diesel, President Jair Bolsonaro said in a televised broadcast Feb. 5. “We intend to conduct a study and, in case it’s feasible and legally possible, we’ll present next week a bill that would calculate the ICMS tax on fuels at the refinery gate or fix the value for ethanol, gasoline and diesel,” Bolsonaro said alongside Cabinet ministers and the CEO of state-led oil company Petrobras, Roberto Castello Branco. State assemblies would set the fixed rate or percentage of the ICMS tax, Bolsonaro said.