The President of the Republic, Luiz Inácio Lula da Silva, sanctioned Law 15,294, which creates the Special Chemical Industry Sustainability Program (Presiq), but vetoed some articles, such as those that made changes to the Special Chemical Industry Regime (Reiq). The text was published in Official Gazette of the Union (DOU).
Initially, the proposal authored by deputy Afonso Motta (PDT-RS) predicted an impact of R$5 billion annually between 2027 and 2029. After modifications made by parliamentarians, the final text approved by Congress resulted in waivers of R$3 billion annually between 2027 and 2031. The ceiling is subject to the provisions in the Annual Budget Law, and the waiver provided for in the project will be covered by revenue from trade defense measures.
The program establishes two types of benefits. In one of them, industrial, registered companies will be able to receive financial credits equivalent to up to 6% of the amount spent on the purchase of certain chemical inputs. The maximum amount authorized for this modality will be R$2.5 billion annually, between 2027 and 2031.
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The text also leaves room for the benefit to be extended in subsequent years, respecting the maximum global limit. “Financial credits may be authorized for use in subsequent calendar years, with a view to covering multi-annual projects, respecting the annual limits”, says the project.
Companies qualified in the investment modality – applicable to petrochemical plants and chemical industries through investment commitments – would be entitled to financial credits of up to 3% of gross revenue up to the limit of the investment value. The total amount available for this type of financial credit will be limited to R$500 million per year, between 2027 and 2031. This benefit may also be extended in subsequent years.
The financial credits provided for by law will correspond to credits from Corporate Income Tax (IRPJ) and Social Contribution on Net Profit (CSLL). Furthermore, the value of these credits will not be included in the calculation basis of other taxes, such as the IRPJ itself, CSLL, the future Contribution on Goods and Services (CBS) and the Tax on Goods and Services (IBS).
Among the vetoes, Lula prevented taxpayers from automatically qualifying for Presiq. According to Planalto, this would make it possible to enjoy tax benefits in amounts above the ceiling stipulated for the tax exemption defined for the program.
