Brazil Senate OKs Repetro oil sector customs regime extension

DECEMBER 12, 2017 / 4:16 PM / UPDATED AN HOUR AGO

The so-called Repetro scheme, which suspends import duties on equipment used in oil exploration and production, had to clear the Senate before the Dec 15 expiry date of a presidential order renewing the tax break currently set to expire in 2019. An amendment to the bill, however, means it must go back to the lower house for another vote.

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