São Paulo – The Brazilian federal government is moving to counter the loss in revenue stemming from the diesel price cut put in place after a trucker strike. One action will be the easing of tax credit awarded to exporting companies under the Reintegra program, from 2% to 0.1%. The information was made public in the Federal Gazette.
The strikers demanded that diesel prices be slashed to offset high costs. The federal government agreed to cut the price of a liter of diesel by BRL 0.46 for a sixty-day period, and the losses stemming from this will be met by government so as not to affect Petrobras’ results.
Translated by Gabriel Pomerancblum
