Provisional measure loses validity and federal taxes on diesel return to zero by the end of the year

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Collection of PIS and Cofins must resume on January 1, 2024, when the rate will be R$0.33 per liter of diesel sold at the pump. The provisional measure that created the discount program for new cars and determined the partial increase in federal taxes on diesel lost its validity last Tuesday (3). With this, taxes on fuel will return to zero until December 31, 2023. The information was confirmed by the Brazilian Association of Fuel Importers (Abicom), which expects a reduction in the final price to the consumer, with a cut of R$0 .12 taxes per liter to zero. Published on June 5, provisional measure 1.1175 of 2023 would be valid for 60 days, being extended for another 60 days. However, the text was not voted on by the National Congress and lost its effectiveness. Diesel price over R$0.02 in refineries This way, what is stipulated in the law published in May this year, which established tax exemption until December 31st, remains valid. In a note this Wednesday (4), the National Federation of Fuel and Lubricant Commerce (Fecombustíveis) stated that it expects fuel distributors to “immediately pass on the exemption from federal taxes, the impact of which will be to reduce diesel oil prices” . Federal taxes on diesel oil had increased by R$0.02 per liter on Sunday (1st). Era is the second phase of resumption of PIS and Cofins taxes. The fossil fuel has the addition of 12% biodiesel, which gives rise to diesel B, sold at gas stations. Considering the mixture, the value of taxes at the pump will be approximately R$0.33 per liter from January onwards. The PIS/Cofins rates on diesel and biodiesel have been zero since 2021, as a way of reducing the price of fuel for the consumer. In January 2023, President Luiz Inácio Lula da Silva (PT) had extended the PIS/Cofins exemption on diesel until December 31st. But the charge was brought forward to finance the federal government’s new car discount program. The program was launched at the beginning of June and its source of resources was the re-encumbrance of diesel by R$0.11 from September. Afterwards, the government announced another R$300 million for the program with an increase of R$0.02 per liter of diesel in October.

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