Global Trade Alert
Global Trade Alert

Brazil: New oil and gas tax framework

Announcement

18 Aug 2017

On August 18, 2017, the Government of Brazil adopted Provisional Measure 795/2017 modifying significantly the tax laws applicable to the oil and gas sector. This state act has a temporary character as it requires approval of the Brazilian Congress to become a law. 

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Number of interventions

3

1 certainly harmful

0 likely harmful

2 liberalising

List of interventions

Implementation date

01 Jan 2018

Revocation date:

No revocation date

Announced: 18 Aug 2017
Tax or social insurance relief In force
Another change introduced on Provisional Measure 795/2017 refers to other tax benefits, particularly to the maximum percentages benefitting from a 0% withholding income tax on remittances in the case ...
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Implementation date

18 Aug 2017

Revocation date:

No revocation date

Announced: 18 Aug 2017
Import tariff In force
Provisional Measure 795/2017 also establishes a special import regime on Article 5. This new framework contemplates the possibility of eliminating import tariffs as well as all federal taxes related t...
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Implementation date

18 Aug 2017

Revocation date:

No revocation date

Announced: 18 Aug 2017
Tax or social insurance relief In force
Article 1 of Provisional Measure 765/2017 sets one of the main changes introduced in this legislation: the allowance to all taxpayers to deduct the expenses incurred during the phases of exploration a...
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