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Posts Tagged ‘fuel’

The Finance Minister Vicente Bengoa, announced tonight that in the coming days, the Government submitted to Congress for consideration, two draft amendments to various laws, especially the 112-01 on hydrocarbons, text indicating that every three months be indexed for inflation taxes to be levied on gasoline, not applied since 2007.

Mr. Vicente Bengoa said that the inflation indexing was not before when oil prices reached astronomical figures, and that have materialized this the price of gasoline would have exceeded the 250 dollars a gallon, and would have caused an untenable situation.

He noted that business for a long time raised that the country should reach an agreement with the International Monetary Fund (IMF) as a way of disciplining the economy, which also advocated the opposition parties.

Highlighted in this sense that this understanding was reached with the IMF, including in the same article, the number six, which stipulated several provisions, including modifying the Hydrocarbons Law, to be applied to the indexing of fuel tax for inflation.

He said also the agreement with the IMF requires to be removed a number of incentives that are meaningful and which is conducive to many firms, incentives that will eventually disappear, Bengoa said in his speech addressed to the entire nation. Read the rest of this entry »