On 18 August 2017, Brazil published Decree No. 9128/2017 and Provisional Measure 795/2017. Decree No. 9128/2017 extends to 31 December 2040 the special customs regime for the import and export of equipment used in oil and gas reserve development activities (REPETRO). Provisional Measure 795/2017 established a new special tax regime for the oil and natural gas sector. Key points of the regime include:
- A federal tax suspension on permanently imported goods used for the exploration, developme…