Brazil court issues injunction suspending fuel tax hike
8/4/2017 5:46:47 AM
SAO PAULO (Reuters) — A Brazilian federal court in Rio de Janeiro state issued an injunction late on Thursday suspending a tax hike on fuels, saying the government decision is unconstitutional.
The increase in the federal PIS/Cofins social contribution tax on gasoline, diesel and ethanol is expected to raise an estimated $3.34 B in additional revenues this year. Brazil's Attorney General office said it would appeal the decision.
Reporting by Eduardo Simões; Writing by Tatiana Bautzer; editing by Diane Craft
Comments