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Brazil Government Claims Windfall Oil Revenue Secures Fiscal Space for Fuel Tax Cuts

Lula’s administration cuts federal PIS/Cofins fuel taxes and boosts diesel subsidies, assuring investors the cost is offset by oil export revenues.

By Eleanor Shaw

Published
Brazil Government Claims Windfall Oil Revenue Secures Fiscal Space for Fuel Tax Cuts
Source: Ricardo Stuckert/PR / Wikimedia Commons (CC BY 3.0 br)

Lula’s administration cuts federal PIS/Cofins fuel taxes and boosts diesel subsidies, assuring investors the cost is offset by oil export revenues.

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