Saturday, July 16, 2016

Tax on gasoline will come down in August – Correio da Manhã

                       Photo Andre Kosters / Lusa

Fernando Rocha Andrade (right.) Explained that the ISP will change in the next state budget for 2017

15/07/2016 08:24

gasoline tax will come down in August

ISP will change in 2017 to the carriers.

             By Miguel Alexandre Ganhão

The Tax on Fuels (ISP) will download in its quarterly review August, after declining a cent in May. If we compare the prices of reference of petrol and diesel determined by the National Authority for the Fuel Market (TNGC) in January (month of reference for the application of the formula) and the last reference price, we found that there was a rise 14 cents per liter on gasoline and 16 cents for diesel. To ensure fiscal neutrality of the formula is expected that the ISP down two cents per liter.

The Secretary of State for Fiscal Affairs was yesterday in Parliament, at the request of the PSD, to explain how it is applied the ISP formula that varies quarterly.

Fernando Rocha Andrade said that this tax will be changes in the next state budget, so that it can be neutral for professionals, without there being loss of tax revenue. One government official said the purpose of the application of the formula ISP, the revenue from this tax will fall short of the enrolled in the state budget for this year, but that will be offset by increased revenue in VAT caused by rising consumption. Rocha Andrade refused to give explanations about the IRS refunds, an issue that was not on the schedule, but always said that were “repaid over EUR 120 million than the registered in the same time last year.”

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