Last night, São Paulo’s government suspended the tax increase for food, mediciations and agricultural inputs.

  • No such change was made for hydrous – the ICMS tax will rise from 12 to 13.3% 
    • Note: IMCS tax is the ‘Tax on Circulation of Goods and Services’ and it is a state tax, not a federal one.
  • The Government is now facing pressure to revert the tax back to all other products, and a protest dubbed as ‘Tratoraço’ took place today in more than 150 São Paulo counties.
  • The movement aims to persuade the Government to reverse the tax increase for ethanol, diesel, electricity, pasteurized milk, fruit, vegetables, and more.
  • However, at the time of writing, the Government is yet to give off any indication that it’ll go back on its decision.

Here’s some photos I took down at the protest in Araçatuba …

undefined

Keep updated with Brazil’s ethanol price using this Interactive Data tool.

undefined

Here’s Others Opinion You Might Be Interested In…

Other Interactive Data You Might Be Interested In…

undefined

Catarina Junqueira

More from this author