With the capacity to serve the internal market, ethanol import tax is reinstatedFeb, 02, 2023 Posted by Lillian Smoak
As the new sugarcane harvest begins, and with it the capacity to serve the internal public with the consumption of ethanol, the original taxation imposed on fuel imported into Brazil has been resumed since the 1st. Its’ cause being that the Foreign Trade Chamber (Camex) decided not to renew the extension of the import tax exemption.
“This exemption, done in an unprepared way, harmed the national ethanol industry, which is responsible for generating jobs, opportunities and clean energy and should be valued”, argued the Minister of Agriculture and Livestock, Carlos Fávaro.
Without the exemption, the import tariff for ethanol becomes 16%, according to Gecex Resolution No. 353, from May 23, 2022, until December 31, 2023. After that date, the rate increases to 18%.
According to the Secretary of Commerce and International Relations of the Ministry of Agriculture and Livestock (Mapa), Roberto Perosa, the return of the import tax protects the Brazilian productive sector without causing an economic impact for the final consumer.
According to him, Brazilian ethanol is more competitive and cheaper in most regions of Brazil, and the sector has the capacity to supply the biofuel to meet domestic demand. “There is no risk of shortages or price increases”, concluded the secretary.
Brazilian ethanol production is estimated at 31.14 billion liters in the 2022/23 harvest, according to the National Supply Company (Conab).
Source: Ports Newsletter
To read the original report, visit: https://www.informativodosportos.com.br/com-capacidade-para-atender-mercado-interno-taxa-de-importacao-do-etanol-volta-a-ser-aplicada/
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