The plenary of the Chamber rejected on Wednesday (13) amendment of the Senate and maintained in the text of Provisional Measure 795/17 the mechanism that guarantees the suspension of taxes due by oil companies until 2040. The MP creates a special regime for importing goods to be used in the exploration and production of oil, natural gas and other hydrocarbons. Originally, the MP exempted the companies until 2022, however, in the voting of the Chamber this term has been extended.

With the approval, the measure follows for presidential sanction. The MP has been in force since August 18, when it was edited by President Michel Temer on the same day that the government announced the renewal of the special customs regime for the export and import of goods destined for research and mining activities and natural gas (Repetro) by 2040.

The project suspends taxes levied on assets destined for exploration, development and production of oil and natural gas that remain in Brazil definitively. The same applies to the importation or acquisition, in the domestic market, of raw materials and intermediate products destined to the activity.

According to the text, the payment of the Import Tax, the Industrialized Products Tax (IPI), the Contribution to the Social Integration Program and the Program for the Formation of Public Server Patrimony (PIS / Pasep-Import) and Contribution for Social Security Financing (Cofins-Importação). The exception is for vessels destined for navigations of maritime, port, cabotage and national support, which, according to the legislation, are restricted to national equipment.