Oil Sector Reacts to Lula's Veto and Sees Investment Risks with New Tax

Oil Sector Reacts to Lula’s Veto and Sees Investment Risks with New Tax

Written by Romário Pereira de Carvalho Publicado em 22/05/2025 at 08:10

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Lula’s Decision To Veto The Exemption Of The Selective Tax On Oil Generated Reaction In The Sector. On The Joule Podcast, Experts Pointed Out Risks To Competitiveness And Legal Safety.
They Criticized The Political Use Of The Tax And The Absence Of A Clear Policy For The Sector

The Regulation Of The Tax Reform Brought Tension To The Oil And Gas Sector. The Main Reason Was President Lula’s Veto Of The Passage That Exempted The Selective Tax (IS) On Minerals Intended For Export, Including Oil.

The Topic Was Discussed On The Joule Podcast, By JOTA In Partnership With Inté. Participants Included Matias Lopes From The Brazilian Institute Of Oil And Gas (IBP) And José Maria Arruda From The Law School Of USP. Both Pointed Out Negative Effects Of The Measure.

According To Lopes, The New Tax Drives Away Investors. “The IS On The Extraction Of Oil And Gas Has A Terrible Impact On The Investor Because It Creates An Additional Cost To A Commodity Produced In The Country,” He Stated. He Advocated For The Maintenance Of Exploration, Which Will Still Be Important For Decades.

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Arruda Criticized The Political Use Of The Tax. “There Is A Brazilian Habit That I Consider Negative In The Creation Of Taxes, Which Is To Create Taxes With Specific Names And Narratives That Are Not Used Correctly,” He Said. For Him, The IS Should Apply To Products Harmful To Health And The Environment.

Sector Representatives Also Claim That The Veto Of The Exemption Contradicts The Practice Of Not Exporting Taxes. They Assert That The Measure Goes Against The Purpose Of The IS, Which Would Be To Discourage The Domestic Consumption Of Harmful Products.

Arruda Also Highlighted That There Is No Clear Policy For Reducing Oil Exploration In The Country. “There Is A National Economic Strategy Around Oil Extraction With Agents Such As Petrobras. So There Is No Direction Towards Decreasing Oil Extraction,” He Concluded.

The Discussion Continues To Generate Debates Among Government, Companies, And Experts.

With Information From Jota.Info.

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Oil Sector Reacts to Lula’s Veto and Sees Investment Risks with New Tax

Lula’s Decision To Veto The Exemption Of The Selective Tax On Oil Generated Reaction In The Sector. On The Joule Podcast, Experts Pointed Out Risks To Competitiveness And Legal Safety.
They Criticized The Political Use Of The Tax And The Absence Of A Clear Policy For The Sector

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Lula’s Decision To Veto The Exemption Of The Selective Tax On Oil Generated Reaction In The Sector. On The Joule Podcast, Experts Pointed Out Risks To Competitiveness And Legal Safety.They Criticized The Political Use Of The Tax And The Absence Of A Clear Policy For The Sector

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Almost 6,000 residents live concentrated along a single street nearly 9 km long in the interior of Poland. Houses form a continuous row, and behind them, narrow agricultural strips emerge, creating one of the most unusual rural patterns in Europe.

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Lula’s Decision To Veto The Exemption Of The Selective Tax On Oil Generated Reaction In The Sector. On The Joule Podcast, Experts Pointed Out Risks To Competitiveness And Legal Safety.
They Criticized The Political Use Of The Tax And The Absence Of A Clear Policy For The Sector