Repetro-Industrialização é a nova implementação do governo federal para atividades de óleo e gás

Repetro-Industrialization Is The New Federal Government Initiative For Oil And Gas Activities

Written by Paulo Nogueira

Published on 26/10/2018 at 07:56

Updated on 26/10/2018 at 07:57

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This Implementation Aims to Improve Investment in the Oil and Gas Sector, Making Companies Invest More in the Petroleum Field

Measures to reduce the tax burden for the oil and gas sector were announced this week by the Palácio do Planalto. Published in the official gazette yesterday (25) by the government, the decree establishing the special regime for the industrialization of goods intended for the exploration and production of oil and gas, called “Repetro-Industrialização.” According to the information in the decree, the prospect will allow the import or procurement in the domestic market of raw materials, packaging used in activities related to the petroleum market.

These purchases will be exempt from a number of federal taxes, provided they are fully utilized in the production process of final products intended for exploration, development, and production of natural gas and other fluid hydrocarbons.

The taxes listed in the text that will no longer be levied are: Import Tax; Tax on Industrialized Products – IPI; contribution for PIS/Pasep-Import; contribution for Cofins-Import; contribution for PIS/Pasep; and contribution for the Financing of Social Security – Cofins.

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The prescription clarifies that the suspension period for the payment of federal taxes under the Repetro-Industrialização will be up to one year, which may be extended for a period not exceeding five years. Companies meeting the terms and conditions set by the Secretariat of the Federal Revenue of Brazil of the Ministry of Finance may operate under this regime.

With this government action, we can expect more investment in the oil and gas sector, so the country can regain a more positive presence in the global market.

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Repetro-Industrialization Is The New Federal Government Initiative For Oil And Gas Activities

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