Brazil fires another salvo in its dispute with America over cotton subsidies
11 de março de 2010Ophir cria Comissão para projetos dos superpoderes tributários do Executivo
15 de março de 2010Brazilian states and cities that don’t produce oil would get a bigger share of revenue raised from offshore output under a measure passed by the lower house.
The measure, approved 369-to-72 late yesterday, is an amendment to a bill passed Dec. 9. Under the bill approved today, states and cities that don’t produce oil may see their royalties from offshore oil output increased by as much as 26 percentage points from current levels.
“We are simply redistributing oil revenue in a much more fair way, among all Brazilian states,” Representative Ibsen Pinheiro, the author of the amendment, said in a telephone interview March 9.
Among the group of ten Brazilian states where oil is produced, only Rio de Janeiro and Espirito Santo states will lose revenue if the measure becomes law, a document distributed by the Brazil Social Democracy Party, known as PSDB, shows.
The amendment now goes to the Senate for a committee vote. The leader of the government’s ruling coalition in the lower house, Candido Vaccarezza, said that President Luiz Inacio Lula da Silva won’t sign the measure should it reach his desk.
