ANNOUNCED AS TEMPORARYNo
Tax or social insurance relief
Article 1 of Provisional Measure 765/2017 sets one of the main changes introduced in this legislation: the allowance to all taxpayers to deduct the expenses incurred during the phases of exploration and/or production. In addition, it establishes the possibility of accelerated depletion of assets until December 31, 2022, for investments related to development activities. In this sense, the rate will be determined by multiplying the produced units by 2.5. Previously, only the national oil company, Petrobras, was allowed to deduct such expenses.
As to Article 2, it allows bareboat charter agreements related to vessels providing transport, handling, transfer, storage and regasification services for liquefied natural gas to benefit from a 0% withholding income tax (IRRF) for up to 60% of its remittances. Previously, this service category was not contemplated.
⚑ Please report this page in case you detect an inaccuracy in its content.