The Brazilian Federal Revenu Office on Wednesday (Mar. 9) issued a normative ruling removing two tax rates levied on the prices of cooking gas cylinders. The exemption applies to imports and sales revenue of the product.
The measure has been adopted amid soaring oil prices due to the conflict between Russia and Ukraine. Russia is the world's largest exporter of oil and by-products, with exports of around 7 million barrels a day, which corresponds to 7 percent of the global supply.
A survey carried out by the National Agency for Petroleum, Natural Gas and Biofuels (ANP) reveals the price of a 13 kg cooking gas cylinder has exceeded BRL 100 ($ 19 dollars) in all regions of the country, ranging from BRL 109.40 ($ 21 dollars) to BRL 140 ($ 27 dollars), impacting the budget of poorer families.
