The government prepared to announce on Thursday a decline in the petroleum products tax (ISP), which applies to fuel and had to February 12 a six-cent increase.
the tax increase – which has been being challenged by the transport sector – it was decided to compensate for the loss of state revenue caused by lower fuel prices following the oil price break. The government, however, decided on a quarterly basis to review the value of the ISP, making reductions to the tax if the fuel price increase. – What has been happening, reflecting the rise in crude oil in the international markets
The value the descent is not yet known. But the prime minister did, on Wednesday night in an interview with SIC, an allusion to “good news” about the tax, pointing out that wanted to make the announcement to the finance minister. “The Minister of Finance tomorrow will present the results. Your to its owner,” said Antonio Costa.
The state of engagement with the ISP shot in March, the first full month with the new values take effect. revenues totaled 241 million euros that month, over 80 million (or 50%) than that recorded in March 2015. in the first quarter of the year, this revenue increased 15% to 610 million euros.
in addition to the tax increase, also an increase in fuel consumption eventually contributed to the positive development of revenues. in March, the latest month for which data are available, the sale of gasoline rose 4% and diesel which is the most fuel sold increased by 5%.
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