Senate discusses royalty transparency bill

The Complementary Bill PLP 243/2020 is being analyzed by the Senate, and aims to increase the transparency of the use of royalties from the exploitation of the oil and natural gas in Brazil.

The author of the project is the Senator José Serra (PSDB-SP), who states that this will be "the first and the sole provision of the Tax Liability Act (LRF) that will require the transparency of budget expenditure on the basis of the collection of a specific public revenue." Still according to the senator, transparency is fundamental to ensure the good management of public resources, especially those related to oil. The PLP was presented at the end of September and awaits the appointment of rapporteur.

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