Investor Presentaiton
Regulatory scenario
The 2019/2020 crop year was decisive
for the National Policy on Biofuels
(RenovaBio) which aims to foster
expansion of the production and use
of biofuels in the domestic energy
matrix. The program came on stream
in 2020 following the beginning of
the processes involving guarantees,
registration, bookkeeping and sale of
Decarbonization Credits (CBIO) on B3
S.A. Brasil, Bolsa, Balcão (B3).
More information in Vision of the future.
Another material regulatory aspect
was the publication of Resolution
777 of April 5, 2019 regulating
foreign trade in biofuels, oil and their
byproducts, while also governing
requests for imports and exports
(more here).
Resolution No. 805, dated December
20, 2019, sets the parameters for
the investigative and trial phases of
punitive administrative proceedings
within the scope of the National Oil,
Natural Gas and Biofuel Agency -
ANP (more here).
Also in the period, supplementary
bill of law (PLP) No. 8/20 was
instituted, bringing forward to 2021
the rights of consumers to avail of
credits on State VAT (ICMS) tax
arising from operations involving
goods intended for the company's
use or consumption, electricity and
communication services. The proposal
amends the Kandir Law that provided
for taxpayer rights to the credit to
begin only in 2033.
For 2020, the National Council for
Tax Policy (Confaz) agreed to extend
ICMS Tax Arrangement No. 100/1997
until December 31, 2020. The measure
provides for tax exemption on internal
transactions and reduces State
VAT tax levied on interstate sales of
agriculture and livestock inputs.
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