Brazil lowers PIS/Cofins tax on ethanol after raising it July 20

July 31, 2017 |

In Brazil, the government decided to lower the PIS/Cofins on ethanol to make it more competitive against gasoline after a decision July 20 to raise the tax for gasoline, diesel and ethanol. The ethanol industry complained that the increase on ethanol was higher than the 9.25% of the retail price allowed, so the government cut it back slightly. The tax of BRL0.24 per liter is much lower than the BRL0.79 applied to gasoline and BRL0.46 applied to diesel.

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