Pursuant to the constitutional amendments enacted to implement the recently approved tax reform in Brazil, the federal government is entitled to charge, as from year 2027, a selective tax on the production, extraction, sale or importation of goods and services harmful to health or the environment.
While these rules exempt exportation from the new tax, they specifically establish that the charge applies on the extraction irrespective of the destination, at a maximum rate of 1% of the product’s market value. Considering that the exportation of commodities is of significative importance to the Brazilian economy, those of extractive nature, such as minerals, oil and gas, are to be particularly impacted.
Programme:
– Opening - Vera Innes, Chair of the Brazilian Chamber of Commerce in Great Britain
– Overview of the selective tax legal framework - Gustavo Braga, founding partner at BBSA – Braga & Bastos Soc. Adv. and Head of the Tax Committee of the Brazilian Chamber of Commerce in GB
– The oil and gas perspective - Matias Lopes, E&P Tax Legal Executive Manager at the Brazilian Petroleum Institute - IBP
– The mining perspective - Rinaldo César Mancin, Institutional Relations Director at the Brazilian Mining Institute - IBRAM
– Q&A Session