Brazil expands tax cuts to nat gas projects
The Brazilian federal government will include the natural gas sector in an existing tax incentive program for infrastructure investments, a move that could boost the country’s burgeoning gas markets.
The new ordinance will let natural gas production, processing, pipelines and local distribution system projects waive up to 9.25pc in federal taxes on machinery or feedstock under the existing Special Regime to Incentivize Infrastructure Investments (REIDI). REIDI was created in 2007 for transportation, power, ports, energy, irrigation and sanitation sectors, to eliminate the PIS and Cofins taxes which generate funds for social programs.
By Flávia Pierry via Argus Media