Wednesday, April 14, 2021

Government studies raising bank taxation to zero diesel PIS / Cofins, says source

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Bolsonaro’s decision to zero the diesel tax for two months will represent a revenue waiver of R $ 3 billion, according to estimates

THE government wants to raise the taxation of banks as one of the measures to compensate the tax exemption diesel oil and cooking gas already announced by the president Jair Bolsonaro and with an estimated impact of more than R $ 3 billion, said two sources with direct knowledge of the matter on Monday.

The idea is to increase the Social Contribution on Net Income tax rate from financial institutions by 20 percent to 23 percent, the sources told Reuters.

In a social media broadcast on February 18, the president Jair Bolsonaro announced that it would definitively zero federal taxes on cooking gas and for two months those levied on diesel from March 1. So far, however, the measure has not been made official and the economic team has not yet detailed how the loss of revenue will be compensated.

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palheta smll Government studies raising bank taxation to zero diesel PIS / Cofins, says source

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