Vale is champion in incentives in 2021

The Federal Revenue released, on its website, data regarding the granting of tax benefits to companies in the year 2021. These benefits are mechanisms through which the government offers discounts or even tax exemptions in certain cases provided for in the legislation, waiving part of your recipes.

According to data provided by the Revenue, the company that most benefited from this type of benefit in 2021 was Vale. Adding all 22 programs described by the agency, Vale benefited by R$ 19.11 billion in this period. Salobo Metais, a Vale company that mines copper in Pará, received another R$1.20 billion.

In addition to Vale and Salobo, two other companies received benefits in excess of R$1 billion:

• Eletronorte, concessionaire that supplies energy to nine states in the Legal Amazon – R$ 1.21 billion;
• Petrobras – BRL 1.30 billion.

More than 15 thousand beneficiaries

Another 53 companies received between R$100 million and R$900 million in benefits. Those who received more than R$ 500 million were the following:

• Chesf, which produces electricity in the São Francisco river basin – R$ 845.77 million;
• Braskem, which operates in the petrochemical sector – R$761.76 million;
• Coca-Cola – BRL 606.46 million

In total, the Revenue listed 15,691 companies that received some kind of tax benefit from the government in 2021. The incentives add up to R$ 50.63 billion.

Ordinance provides for half-yearly data update

The data were made available after the publication of an ordinance by the Federal Revenue itself. The objective is to increase transparency about the tax benefits offered by the government.

The norm provides that the Secretariat for Collection, Registration and Revenue Service reassess the information every six months, “with the aim of gradually expanding it”.