Government should extend tax exemption on oil

The federal Government announced that extend up to 2040 the suspension of import tax of offshore equipment (Repetro), which may assist the oil exploration activities in the country, because the collection represents about 50% of the value of the investments.

In addition, the Government reported that he will announce the new tax rules for the sector. A provisional measure (MP) must be published in the next few days in order to create a new tax regime for the offshore market. Taxation should increase the charges on foreign companies, putting them on the same level of Petrobras.

According to information, studied laws in countries such as United Kingdom, Norway, Mexico and Holland, in order to align and tighten up taxation on offshore companies operating in Brazil. Currently, international companies use the Repetro not to pay taxes and yet remain unchanged, the new rules of taxation should be focused when companies send their resources out of Brazil.

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