A total of 54,900 companies in Brazil declared to the Federal Revenue Service that they had used R$97.7 billion in tax incentives between January and August 2024, according to data obtained by the newspaper Folha de S.Paulo. The survey was carried out through Dirbi (Declaration of Incentives, Renunciations, Benefits and Immunities of a Tax Nature), a new Revenue tool that allows monitoring the impact and use of tax incentives in the country.
Braskem, a Brazilian petrochemical company with international operations, topped the ranking by declaring that it benefited from R$2.27 billion in incentives via Reiq (Special Chemical Industry Regime), a tax exemption program aimed at the chemical and petrochemical industry.
To the newspaper, the company stated that these incentives are part of an essential public policy for the sector, even though the impact concentrated on Braskem is notable. The company highlighted that Revenue estimates in 2023 projected a potential waiver of R$1.186 billion for all companies eligible for Reiq.
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In a note to InfoMoneythe petrochemical company stated that, in relation to the report, the value indicated as REIQ (Special Chemical Industry Regime) in relation to the company Braskem is wrong. “Braskem has already rectified the information before the tax authorities, recording the exact value of the incentive of R$175 million, referring to the period from January to August 2024”, he pointed out.
In the technology and food sector, iFood was the main beneficiary of Perse (Emergency Program for the Resumption of the Events Sector), created to support the events sector and, indirectly, bars and restaurants during the Covid-19 pandemic. The delivery platform declared having received R$336.11 million in incentives in the period.
iFood defended its inclusion in Perse, justifying that its intermediation service between consumers and restaurants is part of the food and events sector, especially in a context of economic recovery.
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Perse, which was originally the subject of discussions to be closed this year by the economic team, had its incentive extended by Congress after mobilization from the sector. With Law 14,859, of May 2024, Perse now has a maximum limit of R$15 billion in tax waivers. To date, companies have used R$5 billion of the established ceiling, with R$10 billion remaining available for new benefits until the limit is reached.
The release of the data occurs while the government is discussing a , led by the Ministers of Finance, Fernando Haddad, and Minister of Planning and Budget, Simone Tebet. The economic team sees cutting subsidies and tax benefits as a necessary measure to balance the budget, especially in a scenario of fiscal restrictions.
Fertilizers, payroll and more
Dirbi data also revealed that incentives for the fertilizer sector totaled R$14.9 billion, representing the highest value among the different types of benefits granted in the period.
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Furthermore, the payroll tax exemption for companies in 17 sectors, a measure extended by Congress, resulted in a waiver of R$12.26 billion between January and August. The total cost of the exemption until the end of the year is estimated between R$18 billion and R$20 billion, and, according to the STF’s determination, this waiver must be compensated by measures to increase revenue or cut expenses.
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