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.
Author
Túlio Vivian Antunes Campos
BrowsingTúlio 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.