The Brazilian government published new tax law measures that are intended to foster the domestic oil and gas industry.
The changes generally focus on three areas:
Read a September 2017 report prepared by the KPMG member firm in Brazil
*REPETRO is a special benefit on the import and export of goods to be used in activities of research, exploration, development, and economic exploration of oil and gas in Brazil. Companies that have authorization or concessions to conduct these activities in Brazil may benefit from the REPETRO system, provided certain requirements are met, including authorization from the federal tax authorities. The tax benefits can include exemptions from import tax and from social contributions (for example, PIS and COFINS).
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