Minister Silveira criticized Petrobras’s import parity price, tomorrow is a federal holiday (Good Friday), and the STF should issue a final decision next week on the transfer of ICMS tax credits between states

BRAZIL POLITICS - Report 06 Apr 2023 by Murillo de Aragão and Cristiano Noronha

The Minister of Mines and Energy, Alexandre Silveira, stated that Petrobras's import parity price, the PPI, is "absurd" and that he "has already made some changes". The statement caused repercussions in the market and the company. Next week will be hectic. In addition to the change that the government is expected to make in the retail sector regarding the ICMS, the Supreme Federal Court (STF) should finalize deliberation on a lawsuit with a potential impact of R$ 5.6 billion for companies in the retail sector. The case pertains to the destination of ICMS credits after the Court decided in 2021 that the tax does not apply to the shipment of goods between establishments of the same company in different states.

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