The reduction of the Tax on the Circulation of Goods and Services (ICMS) was a measure long awaited by Brazilians, who have faced difficulties with the constant increases in fuel prices. And the fall in values has already started!
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In the state of São Paulo, for example, the current governor Rodrigo Garcia started to apply the reduction of ICMS on fuels. The same was done by the governor of Goiás, Ronaldo Caiado, who announced adherence to the law that imposes a limit on the collection of tax on items considered essential.
Reductions brought with the new ICMS law
So far, only the two states have announced the reduction of ICMS rates. With the adoption of the measures, the estimated drop is around R$ 0.85, in the case of the price of Gasoline that appears on gas station pumps. in relation to dieselthe liter should fall by R$ 0.14, while in the ethanol BRL 0.38.
In the case of Goiás, for example, as soon as the tax reduction was confirmed, the new range went into effect immediately. In this case, the percentage of ICMS became 17% in the state. The only exception was the amount applied in the cooking gasin which the current rate of 12% on the product was maintained.
In addition to fuel, when the subject involves the ICMS ceiling, it is also applied in other sectors, such as electricity, which went from 25% to 17%, telecommunications, which went from 29% to 17%, and public transport. , which went from 29% to 17%.
It is worth noting that the reduction in ICMS will cause a drop in state collections, which allocate these resources to improvements in the areas of education and health.