{"id":115984,"date":"2021-03-03T16:04:10","date_gmt":"2021-03-03T08:04:10","guid":{"rendered":"http:\/\/www.namnewsnetwork.org\/?p=115984"},"modified":"2021-03-03T16:04:13","modified_gmt":"2021-03-03T08:04:13","slug":"brazil-pres-bolsonaro-promises-to-sign-decree-suspending-tax-on-diesel-to-prevent-truckers-strike","status":"publish","type":"post","link":"http:\/\/namnewsnetwork.org\/?p=115984","title":{"rendered":"Brazil: Pres Bolsonaro promises to sign decree suspending tax on diesel to prevent truckers strike"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><a href=\"https:\/\/en.mercopress.com\/data\/cache\/noticias\/80411\/0x0\/jair.jpg\"><img src=\"https:\/\/en.mercopress.com\/data\/cache\/noticias\/80411\/760x480\/jair.jpg\" alt=\"The president acknowledged the government would need to compensate for the lost revenue in another way\"\/><\/a><\/figure>\n\n\n\n<p>BRASILIA, March 3 (NNN-MERCOPRESS) &#8212; Brazilian President Jair Bolsonaro said he would suspend a tax on diesel fuel, to try and placate truckers, but the government would instead hike taxes on banks to offset lost revenue.<\/p>\n\n\n\n<p>In a video posted to social media, Bolsonaro said the decree would suspend both the so-called PIS\/Cofins tax on diesel and taxes on cooking gas for two months.<\/p>\n\n\n\n<p>\u201cThe decrees should be published early Tuesday to zero cooking gas federal taxes and PIS\/COFINS for diesel for 2 months,\u201d he said.<\/p>\n\n\n\n<p>The president acknowledged the government would need to compensate for the lost revenue in another way, without specifying how. \u201cWe\u2019ll have to take it out of somewhere.\u201d<\/p>\n\n\n\n<p>Apparently the government is planning to raise a tax on banks\u2019 net income to about 23% from 20% to make up for the lost revenue.<\/p>\n\n\n\n<p>Shares in Brazilian banks fell on Monday afternoon after the newspaper&nbsp;<em>O Globo<\/em>&nbsp;first reported the shift in tax policy. The government is also planning to end some tax exemptions for vehicles and petrochemical products, the newspaper said.<\/p>\n\n\n\n<p>Bolsonaro had promised a reduction in diesel prices by cutting federal taxes on the fuel, following threats that truckers would go on strike. That would cost 3.6 billion reais (US$ 640 million) this year.<\/p>\n\n\n\n<p>Shares in the largest banks extended losses in late afternoon after the\u00a0<em>O Globo<\/em>\u00a0report. Preferred shares in Itau Unibanco Holding SA closed down 3% at 24.90 reais, and preferred Bradesco shares lost 3.3% to 22.24 reais. Units in Banco Santander Brasil fell 1.2% to 37.09 reais. &#8212; NNN-MERCOPRESS<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BRASILIA, March 3 (NNN-MERCOPRESS) &#8212; Brazilian President Jair Bolsonaro said he would suspend a tax on diesel fuel, to try and placate truckers, but the government would instead hike taxes on banks to offset lost revenue. In a video posted to social media, Bolsonaro said the decree would suspend both the so-called PIS\/Cofins tax on [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":115985,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[208],"tags":[],"_links":{"self":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/115984"}],"collection":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=115984"}],"version-history":[{"count":0,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/115984\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/media\/115985"}],"wp:attachment":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=115984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=115984"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=115984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}