Industries and markets

Brazil: São Paulo plans to reduce ICMS Rate on Fuel

The governor of São Paulo, João Doria (PSDB), intends to announce the 25% reduction in jet fuel kerosene ICMS to 12%. The adjustment is to be made under the new program for air transport and

Brazil’s Government Hopes to Save R$1 Trillion with Social Security Reform

“According to the official there are currently two to three proposals which will be given to President Jair Bolsonaro. One of them is to make contribution years and a minimum retirement age the same for

Brazil’s Oil Production Falls in 2018 While Natural Gas Production Increases

“Oil production in Brazil fell by one percent last year, compared to the results obtained in 2017, despite having grown 4.8 percent in December, according to the National Petroleum, Natural Gas and Biofuels Agency (ANP).”

Brazil: São Paulo reduces ICMS rate for packaged produce

Since February 1st, São Paulo has reduced the ICMS rate on packaged fruits, vegetables, and herbs to 0% which should bring down the consumer prices.   Abadoning Double Taxation The reason for the reduction was

Brazil’s Sergio Moro looks to overhaul crime fighting

“Justice Minister Sergio Moro presented an anti-crime bill Monday that seeks to toughen Brazil’s approach to organized crime, corruption and violence. Key measures include obligating convicts to begin serving their sentences after a first appeal

Mexico Posts Record-High Trade Surplus Even After Nafta Redo

“Mexico, which sends the vast majority of its exports to the U.S., saw its surplus soar to $1.8 billion, the most for any month since data has been collected in 1999. Automotive exports rose 7.4

Brazil: INSS Update

The Resolution Nr. 9/2019 specifies the modifications to the INSS contributions in line with the social security regulations. According to the new resolution, beenfits pais by the National Institute for Social Security (INSS) have been

Mexico investigates 3 officials from state oil company

“We can’t tolerate anything that has to do with corruption or even accept suspicions,” he said. Mexico comptroller Irma Erendira Sandoval said that the Pemex officials, including the current head of exploration and production, had

Brazil’s New Congress Starts Friday Already with Controversial Issues

“Among the first issues this new Congress will have to discuss is the social security reform. The reform is considered by President Jair Bolsonaro’s economic team as essential to improve the country’s dismal public accounts.

Peru: CbC Report Exchange since “MCAA CbC”

At the end of 2018, Peru signed the Multilateral Competent Authority Agreement (MCAA CbC) which regulates the exchange of Country-by-Country reports. Thus, Peru has committed to send CbC reports to 44 countries until January 31st,