November 29, 2017 / 10:06 PM / 6 months ago

Brazil's Senate fails to pass aviation fuel tax reduction

BRASILIA (Reuters) - A Senate resolution that would have reduced fuel costs for airlines in Brazil failed to muster the needed two-thirds majority on Wednesday and was shelved.

The measure that proposed a maximum 12 percent ICMS sales tax for all aviation, from crop dusters to passenger jets, would have benefited Brazil’s main domestic airlines LATAM Airlines, GOL Linhas Aéreas Inteligentes, Azul Linhas Aéreas Brasileiras S.A. and Avianca Brazil.

Reporting by Anthony BoadleEditing by Sandra Maler

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