It was announced on Wednesday that the Brazilian Senate has approved a constitutional amendment bill which creates a new fuel tax.
Cide, which will take effect on January 1st 2002, when the state monopoly of the oil and gas derivatives import market ends, will replace the PPE tax on fuel. According to Brazilian newspaper O Globo, a second vote on the amendment is due to take place on December 11th.
It is hoped that the new tax, which will be payable only by consumers, and not by fuel-producing states as at present, will raise almost $6 billion in additional revenue.
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment