Goiás state congress pass tax levied on agribusiness despite market criticism

Nov, 24, 2022 Posted by Gabriel Malheiros

Week 202247

The Legislative Assembly of Goiás (Alego) approved in a second vote on Wednesday, November 23, the so-called Fundeinfra contribution tariff, which can reach up to 1.65% on the sale of products such as soybeans. The measure has been the target of harsh criticism from the market.

Now, the matter goes to the sanction of Governor Ronaldo Caiado.

The purpose of the new tariff is to offset part of the tax collection losses that the State has endured with the reduction of ICMS (state excise tax) on fuel, energy, and telecommunications.

Alego stressed in a note that the funds will be directed to implementing policies and administrative actions in agricultural infrastructure, transport, maintenance, conservation, and paving, among others.

Goiás’ policy was inspired by similar policies in Mato Grosso do Sul and Mato Grosso.

Source: Money Times

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