Brazil's trade body Camex has extended a 12% tax on crude oil exports for another 60 days, hours after a local court had ruled to suspend it. The levy's future stays unclear as oil firms and the Lula administration continue to dispute it.
Brazil's government trade body Camex approved a 60-day extension of the 12% tax on crude oil exports, local outlet Valor Economico reported on Thursday.
Camex's approval came just hours after a local court ruled to suspend the export tax. As a result, the levy's status stays contested, with oil firms and the Luiz Inacio Lula da Silva administration still disputing it.
That dispute leaves the future of the levy unclear.
Source: Investing.com (snippet-based)
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