The Oil Sector Will Have a Reduction in ISS in Rio

To Stir More Investments From Oil Companies in Rio, Marcelo Crivella Will Reduce ISS and Bring More Oil Companies

The oil from Rio de Janeiro is on its way to another important step for the state’s economic recovery. Marcelo Crivella has a Bill (PL) that will reduce the Service Tax (ISS) percentage for oil companies operating in the city.

Nowadays, companies are required to pay 5% of this rate to the public coffers, as an example Macaé, which only didn’t completely collapse amid this crisis because there are still companies in the sector operating in the city. If this law comes into effect in the short term, this reduction will drop to 2%. It may not seem like much at first glance, but for an industry that generates billions annually, it will be a savings of millions that can be reinvested in job creation and economic injection.

To take advantage of the moment when the 14th oil auctions were successful, in which the Campos Basin was once again auctioned off to Petrobras and ExxonMobil, this would further enhance the entry of new contractors into the state. Source: Jornal do Brasil