President Lula announces temporary fuel tax exemptions following inauguration

January 2, 2023 |

In Brazil, Reuters reports that shortly following President Lula’s inauguration on Sunday he announced temporary tax exemptions on fuel, and on Monday the national bulletin published a tax exemption on fossil and biodiesel for the next year and one for gasoline and ethanol for the next two months. The tax waiver represents a $9.87 billion hit to the national coffers. Lula has run his campaign and launched his presidency focused on serving “the people” who have been hit hardest.

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Category: Policy

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