AreaBrazil

Commodity GroupOilseeds, oils and meals

CommoditySoybeans, soybean oil

Date04/06/2024

Policy CategoryTrade

Policy InstrumentTax policy

DescriptionRestricted the reimbursement and compensation of accumulated credits from the Programa de Integração Social (PIS) and Contribuição para o Financiamento da Seguridade Social (COFINS) balances, effectively preventing corporations, including oilseed exporters and processors, from using them to offset tax liabilities. The measure is effective 4 June 2024 for a period of 120 days and requires congressional approval to remain valid thereafter.