On 11 March 2022, Supplementary Law #192 introduced the single-stage ICMS tax regime on transactions involving fuels. This new law aims to reduce the final customer’s tax burden on transactions involving the following fuels: gasoline, anhydrous ethanol fuel, diesel, biodiesel, liquefied petroleum gas and natural gas. Moreover, Supplementary Law #192 temporally reduces to zero the PIS and COFINS rates on transactions involving the above-mentioned fuels until 31 December 2022, without affecting the accrual of credits.
Túlio Vivian Antunes CamposBrowsing
Túlio Vivian Antunes Campos is an Associate Trench Rossi Watanabe, Rio de Janeiro office. *Trench Rossi Watanabe and Baker McKenzie have executed a strategic cooperation agreement for consulting on foreign law.