Approval of PL 1548/2022: Taxation of Corn Bran and Oil
The Chamber of Deputies approved this Tuesday (April 16, 2024) Bill 1548/2022, by 383 votes in favor and 19 against, extending the same tax treatment granted to soybeans to corn bran and oil. PIS/Pasep and Cofins.
Why is the taxation of corn bran and oil important for agribusiness?
The project, which originated in the Senate and is now under urgency in the Chamber, aims to encourage Brazilian agribusiness, especially the corn sector. Equal tax treatment with soy implies significant benefits for producers and companies in the sector, stimulating the production and commercialization of these essential products for the national economy.
The approval of PL 1548/2022 is of great importance for corn producers, as it extends tax benefits previously exclusive to soybeans to corn bran and oil. This implies a series of relevant points to consider:
- Reduction in the tax burden: With the application of presumed credits, producers and companies in the sector will have a significant reduction in the final tax payable, which contributes to reducing production costs and increasing competitiveness in the market.
- Stimulating production: By creating a more favorable tax environment for the corn sector, the project encourages increased production of these products, which can boost economic growth and generate more jobs in the field.
- Improved competitiveness: With the tax equality between corn and soybeans, corn producers gain greater competitiveness in the market, being able to increase their participation in both the domestic market and in exports.
- Modernization of the sector: The measure represents an advance in the modernization of the Brazilian agricultural sector, aligning tax legislation with the needs and demands of corn producers, who play a crucial role in the country's economy.
The approval of this bill is essential to strengthen Brazilian agribusiness, especially the corn production segment, providing more favorable conditions for the sustainable development of the sector.
What determines the approved project?
The text establishes the application of a presumed credit that reduces the final tax payable, based on the reduction in the calculation base. The project's rapporteur, deputy Sergio Souza (MDB-PR), presented a substitute that guarantees products a credit equivalent to 27% of the PIS/Pasep and Cofins contribution rates. This measure aims to make taxation more favorable to the sector, promoting a more competitive environment and stimulating the growth of corn bran and oil production.
What are the next steps after approval in the Chamber of Deputies?
After undergoing modifications in the Chamber, the approved text will return to the Senate for final consideration. Once sanctioned, the project will represent a significant advance for the agricultural sector, strengthening the competitiveness of corn production in Brazil.
Concluding the News
The approval of PL 1548/2022 marks an important milestone for Brazilian agribusiness, especially for the corn sector. By extending the same tax treatment granted to soybeans to corn bran and oil, the project aims to encourage the production and commercialization of these products, promoting economic growth and competitiveness in the national agricultural sector. The measure represents a significant step towards strengthening Brazil's position as one of the main global players in the agricultural commodities market. Share your opinion on this decision in the comments below!
