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Brazil Extends Repetro Tax Regime

by Glen Shapiro, Tax-News.com, Washington

23 August 2017


Brazil has extended concessionary tax arrangements for oil and natural gas exploration companies to 2040.

Decree No. 9128/2017, published in the Official Gazette on August 18, provides for an extension to the Repetro regime, which, among other things, provides tax relief from customs and cross-border taxes on goods used in identifying new natural resources and also offers duty suspension arrangements.

The regime, introduced in 1999, was due to expire from 2020.

As well as extending the regime, the Decree provides that businesses can deduct expenses on capital goods within 5 years rather than 20 years.

TAGS: tax | mining | law | offshore | legislation | Brazil | tax breaks

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