Oil companies interested in Brazil’s resurgent oil sector are watching moves by the state legislative body of Rio de Janeiro (Alerj) intended to water down the “Repetro” system of tax relief for oil sector investments, writes Gareth Chetwynd.
The federal legislature recently extended application of the Repetro tax mechanism to 2040, to the relief of the oil companies, but deputies at Alerj are attempting to claim powers over the extent to which local government taxes are covered.
