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Governors Decide to Freeze ICMS on Fuel for Another 90 Days and Establish a Single Rate for Diesel

Written by Roberta Souza

Published on 23/03/2022 at 12:22

Economy, Oil and Gas

Foto: Reprodução Google Imagens (via Garagem 360)

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The Measure to Set ICMS and Establish a Uniform Diesel Tax Rate Can Help Consumers’ Wallets

On March 22, during a meeting of governors in Brasília, they chose to extend the freeze on the Goods and Services Circulation Tax (ICMS) on fuels for another quarter, in addition to applying a single tax rate on diesel fuel, according to the law recently approved by the Federal Congress and sanctioned by Jair Bolsonaro, the President of the Republic.

However, one of the provisions of the fuel law, Article 7 of the regulation, presents a transition rule to freeze the ICMS charge on gasoline until the end of this year, based on the average prices from the last five years. Thus, the transition rule for freezing the ICMS would be responsible for causing an even greater shortfall in state budgets.

Therefore, the States need to go to the Federal Supreme Court (STF) to try to prevent this provision of the ICMS freeze law on gasoline – a fuel that may see its price decrease – from remaining in effect. The States argue that the law regarding ICMS on diesel and gasoline is unconstitutional for conflicting with their autonomy, violating the Fiscal Responsibility Law (LRF), and colliding with electoral law, which restricts the granting of privileges during an election year.

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Also Watch the Following Segment from Jovem Pan News:

Companies Study Potential of HVO, the “Future Diesel” that is Less Polluting than Oil Derivatives and May Be Key to the Survival of Combustion Engines

HVO is a renewable drop in the diesel substitute fuel that offers users a 90% reduction in greenhouse gas emissions, as well as significant benefits for air quality. Its renewable status is attributed to the nature of its raw materials, which are generally plant-based, food, or animal waste. In addition to all these advantages, HVO reduces fine particulate matter (PM) by 33%, hydrocarbons (HC) by 30%, carbon monoxide (CO) by 24%, and nitrogen oxides (NO) by 9%. All pollutants with high emission levels when biodiesel is consumed. To learn more, check out this article in full by clicking here.

Governors Decide to Freeze ICMS on Fuel for Another 90 Days and Establish a Single Rate for Diesel

The Measure to Set ICMS and Establish a Uniform Diesel Tax Rate Can Help Consumers’ Wallets

Also Watch the Following Segment from Jovem Pan News:

Companies Study Potential of HVO, the “Future Diesel” that is Less Polluting than Oil Derivatives and May Be Key to the Survival of Combustion Engines

While in Brazil a 10-story building takes 2 years to complete, in China a company stacks pre-fabricated modules and raises the entire building in just 28 hours and 45 minutes.

BRICS is preparing a payment system inspired by the Brazilian PIX that will allow direct transactions between countries using national digital currencies without relying on the dollar or Western banks as intermediaries.

The oldest tree in the world, alive since before the birth of Jesus Christ, is cut down in a scientific study and the case changes environmental preservation rules.

An entire island in the Pacific wants to surround itself with a colossal barrier against the ocean to try to escape increasingly violent waves and not be swallowed by the sea in the coming decades.

After ten days orbiting the Moon, science confirms that the astronauts of the Artemis II mission return with altered bodies.

Peru built a tunnel at an altitude of 4,738 meters cutting through the Andes Mountains, and the road leading to it reaches 4,818 meters, making it the highest paved road in the entire world.

Seen from space, an image taken by an astronaut shows in Argentine Patagonia the exact point where a colossal glacier, a turquoise-blue lake, and a greenish arm of water meet, creating one of the rarest and most impressive landscapes in the region.

35 countries spent more than 20 billion euros to build the largest nuclear fusion reactor in the world in southern France — the main magnet is so powerful that it could lift an aircraft carrier, and the plasma reaches 150 million degrees.

Scientists have discovered in space the largest organic molecule ever found among the stars, a structure of 13 atoms that could be the “missing link” between the chemistry of the cosmos and the origin of life on Earth.

In the United States, 99% of all new electric capacity in 2026 will be from solar, wind, and batteries — totaling 86 GW in a single year, the largest jump since 2002, while natural gas accounted for only 7%.

The ‘artificial sun’ of China did what physicists said was impossible — it maintained stable plasma at densities that exceed the theoretical limit and took a real step towards unlimited fusion energy.

Instead of torpedoes, American submarines will now launch autonomous drones through the same tubes — and when the drone reaches the surface, it transmits everything the submarine sees at the bottom of the ocean.

Governors Decide to Freeze ICMS on Fuel for Another 90 Days and Establish a Single Rate for Diesel

The Measure to Set ICMS and Establish a Uniform Diesel Tax Rate Can Help Consumers’ Wallets

Also Watch the Following Segment from Jovem Pan News:

Companies Study Potential of HVO, the “Future Diesel” that is Less Polluting than Oil Derivatives and May Be Key to the Survival of Combustion Engines

While in Brazil a 10-story building takes 2 years to complete, in China a company stacks pre-fabricated modules and raises the entire building in just 28 hours and 45 minutes.

BRICS is preparing a payment system inspired by the Brazilian PIX that will allow direct transactions between countries using national digital currencies without relying on the dollar or Western banks as intermediaries.

The oldest tree in the world, alive since before the birth of Jesus Christ, is cut down in a scientific study and the case changes environmental preservation rules.

An entire island in the Pacific wants to surround itself with a colossal barrier against the ocean to try to escape increasingly violent waves and not be swallowed by the sea in the coming decades.

After ten days orbiting the Moon, science confirms that the astronauts of the Artemis II mission return with altered bodies.

Peru built a tunnel at an altitude of 4,738 meters cutting through the Andes Mountains, and the road leading to it reaches 4,818 meters, making it the highest paved road in the entire world.

Seen from space, an image taken by an astronaut shows in Argentine Patagonia the exact point where a colossal glacier, a turquoise-blue lake, and a greenish arm of water meet, creating one of the rarest and most impressive landscapes in the region.

Petrobras made two discoveries in the pre-salt of the Campos Basin in less than 30 days: “excellent quality” oil in Marlim Sul in March and hydrocarbons at 2,984 meters in April.

The U.S. ambassador openly threatened the interim president of Peru after he suggested pausing the purchase of 24 American fighter jets due to the debt that the deal would bring to the country.

Millions of Brazilians pay Income Tax without knowing that they can divert up to 6% of the amount to social and cultural projects instead of letting the government decide alone what to do with the money.

Chinese have taken over the factory that Jaguar Land Rover built for over R$ 1 billion in Rio de Janeiro and will transform the plant that produced luxury cars into a machine for 100,000 vehicles per year.

More than 3,900 Brazilian municipalities are unable to pay their own bills, and yet two city halls located just 700 meters apart continue to operate separately, each with a full structure.

35 countries spent more than 20 billion euros to build the largest nuclear fusion reactor in the world in southern France — the main magnet is so powerful that it could lift an aircraft carrier, and the plasma reaches 150 million degrees.

Scientists have discovered in space the largest organic molecule ever found among the stars, a structure of 13 atoms that could be the “missing link” between the chemistry of the cosmos and the origin of life on Earth.

In the United States, 99% of all new electric capacity in 2026 will be from solar, wind, and batteries — totaling 86 GW in a single year, the largest jump since 2002, while natural gas accounted for only 7%.

The ‘artificial sun’ of China did what physicists said was impossible — it maintained stable plasma at densities that exceed the theoretical limit and took a real step towards unlimited fusion energy.

Instead of torpedoes, American submarines will now launch autonomous drones through the same tubes — and when the drone reaches the surface, it transmits everything the submarine sees at the bottom of the ocean.