The Chamber of Deputies plenary approved on Tuesday (10) a bill that temporarily reduces PIS/Pasep and Cofins rates for the chemical and petrochemical industry, with an estimated cost of R$ 3.1 billion in 2026. The measure mainly benefits Braskem and acts as a transition to the new incentives program starting in 2027. The text now goes to the Senate.
The Chamber of Deputies plenary approved, by 317 votes in favor and 61 against, a complementary bill that reduces the PIS/Pasep and Cofins rates on national production and the import of strategic inputs for the chemical and petrochemical industry. The reduction applies only to 2026 and will cost R$ 3.1 billion to public coffers, of which R$ 1.1 billion was already budgeted in the Union Budget. The remainder will be offset by revenue from cutting fiscal benefits.
The measure is not subject to the limits of the differentiated rates review approved last year, which took effect in January. The chemical sector had been pressing for a solution for 2026, after President Lula (PT) sanctioned the Presiq (Special Program for Sustainability of the Chemical Industry), which incentivizes modernization and replacement of fossil fuels starting in 2027, but vetoed the Reiq rate reduction due to lack of financial impact forecast.
In January, Abiquim (Brazilian Chemical Industry Association) and workers' entities sent a letter to Vice-President Geraldo Alckmin requesting intervention. The bill was presented by Deputy Carlos Zarattini (PT-SP) on January 5, with Afonso Motta (PDT-RS) as rapporteur.
Zarattini defended the approval: "São 12 empresas grandes do setor químico com 40 mil trabalhadores". He argued that the benefit serves as a transition to Presiq. Critics, like Gilson Marques (Novo-SC), questioned the favoritism toward Braskem: "Haverá um beneficiado específico, artesanal, que é a Braskem". Zé Trovão (PL-SC) mocked it as the "benefício dos amigos do rei".
Braskem's largest shareholders are Novonor (formerly Odebrecht) and Petrobras. Due to Carnival, no deliberative sessions are scheduled for next week.
