Brazilian government updates oil and gas tax framework

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October 2017

Overview

The Brazilian government on August 18, 2017, enacted Provisional Measure (PM) 795/2017, which includes significant changes to the tax laws applicable to the oil and gas sector. Decree 9,128/17, published on the same date, extends the Special Customs Regime (REPETRO) until December 31, 2040. 

Because PM 795/2017 requires the approval of Brazilian Congress to become law, it is a temporary measure.  PM 795/2017 therefore is valid for 60 days and can be extended for 60 more.

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Latin American Tax Group, PwC US

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