Brazil Diesel Tax Cut Offset by Oil Export Levy in War Package

2026-03-12 - 19:43

Key Points — President Lula signed Decree 12,875 on March 12 eliminating PIS and Cofins taxes on diesel — the only two federal levies on the fuel — cutting R$0.32 per liter at the refinery gate, with an additional R$0.32 per liter subsidy to producers and importers for a total relief of R$0.64 per liter