RIO DE JANEIRO, BRAZIL - Brazilian President Jair Bolsonaro said on Tuesday, March 2nd, he would suspend a tax on diesel fuel, to try and placate truckers, but the government would instead hike taxes on banks to offset lost revenue.
In a video posted to social media on Monday, Bolsonaro said the decree would suspend both the so-called PIS/Cofins tax on diesel and taxes on cooking gas for two months. “The decrees should be published early tomorrow to zero cooking gas federal taxes and PIS/COFINS for diesel for 2 months,” he said.
Bolsonaro had promised a reduction in . . .