Petrobras Is Responsible for R$ 9.5 Billion of the Tax on Circulation of Goods and Services (ICMS) Collected in Rio de Janeiro in 2021

Written by Flavia Marinho

Published on 24/03/2022 at 10:14

Updated on 24/03/2022 at 21:08

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Throughout Brazil, the Giant of Brazilian Oil Collected R$ 93.5 Billion in State Taxes Last Year

Petrobras, the giant of Brazilian oil, collected R$ 9.5 billion in Tax on Circulation of Goods and Services (ICMS) in Rio de Janeiro in 2021, equivalent to 20.1% of all that the State collected that year from the tax, and 37% more than the R$ 6.9 billion collected in 2020. This information appears in the company’s Fiscal Report, released yesterday afternoon, March 22.

During the past year, Petrobras collected R$ 93.5 billion in ICMS throughout the country, with R$ 61 billion resulting from operations inherent to its own commercial activities, and R$ 32.5 billion as a tax substitute, in which the company assumes the legal burden and responsibility of collecting the ICMS due by other economic agents, such as distributors and resellers, throughout the fuel marketing chain, up to the final consumer. This total value represents an increase of 43% over the R$ 65.5 billion collected in 2020.

The more resources Petrobras generates, the more it returns to society. In 2021, Petrobras transferred approximately R$ 230 billion to Brazilian society in dividends to the Union and taxes to federal, state, and municipal governments.

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Petrobras Fills Public Coffers with R$ 54.5 Billion in Royalties: Amount Is the Highest Ever Paid by the Oil Company to the Federal Government, States, and Municipalities in History!

Petrobras collected a total of R$ 54.5 billion from public coffers in 2021 solely from royalties and special participations, the highest annual amount ever paid by the company. According to the state-owned company, this amount represents an increase of about 70% compared to 2020 (R$ 32 billion), and approximately 36% compared to 2019, the previous record (R$ 39.9 billion).

These significant values demonstrate that the activities of Petrobras generate returns not only for the company but for society as a whole. In the last 5 years, the increase has been even greater. The amount collected in 2021 is about 285% higher in royalties than what was paid in 2016 (R$ 14.2 billion).

Petrobras Is Responsible for R$ 9.5 Billion of the Tax on Circulation of Goods and Services (ICMS) Collected in Rio de Janeiro in 2021

Throughout Brazil, the Giant of Brazilian Oil Collected R$ 93.5 Billion in State Taxes Last Year

Petrobras Fills Public Coffers with R$ 54.5 Billion in Royalties: Amount Is the Highest Ever Paid by the Oil Company to the Federal Government, States, and Municipalities in History!

Check Below the Evolution of Royalties Collected in the Last 5 Years

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Petrobras Is Responsible for R$ 9.5 Billion of the Tax on Circulation of Goods and Services (ICMS) Collected in Rio de Janeiro in 2021

Throughout Brazil, the Giant of Brazilian Oil Collected R$ 93.5 Billion in State Taxes Last Year

Petrobras Fills Public Coffers with R$ 54.5 Billion in Royalties: Amount Is the Highest Ever Paid by the Oil Company to the Federal Government, States, and Municipalities in History!

Check Below the Evolution of Royalties Collected in the Last 5 Years

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