Lula signs decree to reduce gasoline tax, cutting 0.63 reais per liter

Brazilian President Lula has signed a decree reducing the PIS/PASEP and COFINS taxes levied on each liter of gasoline by 0.63 reais. This tax adjustment is a relief measure introduced by the Brazilian government targeting the fuel market. After the tax reduction, the cost burden of end-user gasoline is expected to decrease, which will positively impact local consumption, transportation, and other related sectors.