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ISP cuts 22.2 cents on diesel and 26.3 cents on petrol - Energia

ISP cuts 22.2 cents on diesel and 26.3 cents on petrol – Energia

According to the government, the ISP cut next week will be 22.2 cents per liter for diesel and 26.3 cents for petrol, which translates to an extra 1.2 cents for petrol and an extra 0.4 cents for diesel.

And according to a statement issued by the Ministry of Finance today, “Taking into account the possibilities of price developments next week and the observed price changes in the past two weeks, there will be a further reduction in the prices of Internet services. [Imposto Sobre os Produtos Petrolíferos] On both types of fuel, starting next Monday, June 20.”

He noted that “the tax burden (ISP + VAT) was reduced by an additional 1.2 cents per liter of gasoline and 0.4 cents per liter of diesel.”

In the same statement, Finance noted that “over the next week, the global tax burden on fuel has been reduced through the two measures in place – a weekly mechanism for ISP review and a reduction in unit rates of this tax to the equivalent of 13% value-added tax – in total. 22.2 cents per liter for diesel and 26.3 cents per liter for gasoline,” with “in addition to these amounts not updating the carbon tax by about six cents per liter.”

According to the government, “the rate for diesel ISPs is reduced to the minimum allowed under Directive 2003/96/EC, issued on October 27,” adding that “Portugal had already asked the European Commission, in April, not to be bound by the application of the lower limits that imposed by the aforementioned directive, under Article 19 of it, during the evaluation of the application by the services of the European Commission.”

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The trusteeship also reported that “within the scope of the weekly review of the Internet Service Provider Modernization Mechanism, which ensures the return of any extraordinary VAT revenues in light of the price development perspective, the situation will be reassessed next Friday, June 24.”