At least 20 states have already announced the reduction of ICMS on fuel. The governors of Ceará and Amazonas made the announcements this Monday.
The Federal District published on the first of this month a decree limiting the ICMS collection to 18%. The rates of gasoline and ethanol were 27%. According to the government, the loss is estimated at R$1.7 billion per year.
Governor Ibaneis Rocha (MDB) said he will have to review the Federal District's accounts.
The Fuel Retail Trade Union of the Federal District estimates a reduction of R$0.43 in gasoline and R$0.40 in ethanol with the reduction of ICMS.
Consumers should gradually feel the difference at the pump, with the renewal of stocks, says the president of the entity Paulo Tavares.
São Paulo was the first to reduce ICMS. In the state, the rate fell from 25% to 18%. Minas Gerais, Goiás, Paraná and Amapá have also announced the cut.
The actions seek to comply with the law that limited the ICMS on fuels or the definition by the National Council for Finance Policy that the tax must be calculated on the average price of the last 60 months.
In Congress, parliamentarians still need to evaluate President Jair Bolsonaro’s vetoes of the ICMS ceiling law.
In the Federal Supreme Court, governors question the ceiling law and the law that determined the uniform rate throughout the country.
Source: investing.com
