After federal law, Ibaneis reduces ICMS on fuel: “It will cause damage”
Abhishek Pratap July 2, 2022NewsComments Off on After federal law, Ibaneis reduces ICMS on fuel: “It will cause damage”5 Views
Governor Ibaneis Rocha (MDB) determined the reduction of the Tax on Circulation of Goods and Services (ICMS) on fuel in the Federal District. Now, the rate is 18%.
The change – which should have an impact on reducing the price of gasoline at pumps – was published in an extra edition of the Official Gazette, this Saturday (7/2), with a retroactive date to July 1st. Check out:
The decision follows the recent law passed by the National Congress that places a ceiling of 17% to 18% on the collection of ICMS by states on fuel and energy. In the country, at least 10 states lowered the ICMS rate.
Gasoline: 20 countries where fuel is cheaper than in Brazil
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During his participation by videoconference in the Deep Brazil Congress, President Jair Bolsonaro said that Brazilian gasoline is the cheapest in the world. The announcement came amid yet another increase in fuel prices in the country. Anchalee Phanmaha/Getty Images
However, according to the weekly report by the consultancy Global Petrol Prices carried out in early March 2022, Brazil actually ranks 90th in the world ranking. The average price of a liter of gasoline in the country costs US$ 1,287. In real, the value would be R$ 6.56, much higher than in countries like Venezuela, for example.deepblue4you/ Getty Images
According to the report, the country that borders Brazil has the lowest price of gasoline. There, the liter is costing approximately US$ 0.025Nico De Pasquale Photography/ Getty Images
As in Venezuela, the price of gasoline in Libya is also one of the lowest in the world. In the country located on the African continent, the liter of fuel reaches US$ 0.032Artit Fongfung / EyeEm / Getty Images
In Iran, a liter of gasoline costs about US$0.051; in Syria, US$ 0.316; in Algeria, US$ 0.321; in Angola, US$ 0.337; and in Kuwait it costs US$0.346 PhotoAlto/James Hardy/Getty Images
Until then, in Russia, which is at war with Ukraine, a liter of fuel costs US$ 0.373; in Kazakhstan, US$0.400; in Nigeria, US$0.400; in Malaysia, US$ 0.491; in Bolivia, US$ 0.545; in Qatar, R$0.577; in Colombia, US$ 0.624; and in the Maldives it costs approximately US$0.840John Scott/Getty Images
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In neighboring Argentina, a liter of gasoline costs R$ 0.976; in Mexico, US$ 1,078; in the United States, US$ 1,178; in Ukraine, which is at war with Russia, until then, a liter of gasoline costs US$ 1,183 and, in Paraguay, US$ 1,208Vinícius Schmidt/Metropolis
In Brazil, Petrobras recently announced an 18.8% increase in gasoline and a 24.9% increase in diesel at refineries. Already cooking gas (LPG), the high was 16.1%. With the new adjustment, the current value of gasoline in Brazil is above R$ 7.00 per literGlow Images/ Getty Images
The governor participates, this Saturday, in the March for Jesus, in Brasília. During the event, Ibaneis confirmed the decision to reduce the rate, anticipated by the Wide Angle column. “It will cause enormous damage to the city, but what can you do, right? Have to comply. Law is made to be enforced”, highlighted the head of the Palácio do Buriti.
STF gives Bolsonaro 10 days to explain ICMS ceiling on fuel
After the National Congress approved the ICMS ceiling on fuels, the governor published a decree that sets aside R$500 million in the Federal District’s budget.
Ibaneis told the column that the measure is necessary to maintain the balance of the DF’s public accounts. “We had to make the contingency after the approval, in Congress, of the Complementary Law Project (PLP) nº 18. This is an action of fiscal responsibility of the government”, he pointed out.
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