At an international event, the company president draws attention to a possible impact on the competitiveness of Brazilian industry
HOUSTON (USA) – The president of Shell in Brazil, Christian Pinto da Costapredicts that the new tax on crude oil exports, created to replenish the Brazilian government’s cash flow during the president’s Luiz Inácio Lula da Silva, be “temporary and isolated”. He drew attention to the possible impact on the competitiveness of the industry, which already spends two out of three barrels to pay taxes, citing an industry study.
“I recognize the challenges of the new government in trying to rebalance deficits, but this is a precedent that we hope will be temporary and isolated so that the industry can maintain competitive progress over the long term,” Costa said at the conference. Offshore Technology Conference (OTC)the largest event in the offshore oil and gas industry, taking place this week in Houston, Texas (USA).
In public accounts, the temporary collection of Export tax of oil will have a positive financial impact of R$ 6.6 billion. The 9.2% tax on crude oil and bituminous minerals will be temporary, for four months, in force until June.
The executive also criticized the Brazilian tax system and mentioned the importance of the new one tax framework, which will replace the spending limit. “The complexity is enormous,” she said. “Once again, Brazil has the opportunity to implement a new tax reform and to actively engage between government and industry to ensure that we simplify but not burden even more.”
Source: Terra
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