On April 6, 2022, in the Official Gazette of the State of Rio de Janeiro, Law No. 9,635/2022, was published, instituting ICMS Convention No. 112/2013 as enacted by National Finance Policy Council ("CONFAZ"). The new law reduces the ICMS tax rate on local transactions in biogas and biomethane to 12% of the transaction value.
In addition, the new law establishes that biogas is the gas produced from the anaerobic digestion of organic wastes and is primarily composed of methane. the new law also establishes that biomethane must comply with Resolution No. 16/2008 of the Brazilian National Agency of Petroleum, Natural Gas and Biofuels (“ANP”).
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Founded in 2001, Tauil & Chequer Advogados is a full service law firm with approximately 90 lawyers and offices in Rio de Janeiro, São Paulo and Vitória. T&C represents local and international businesses on their domestic and cross-border activities and offers clients the full range of legal services including: corporate and M&A; debt and equity capital markets; banking and finance; employment and benefits; environmental; intellectual property; litigation and dispute resolution; restructuring, bankruptcy and insolvency; tax; and real estate. The firm has a particularly strong and longstanding presence in the energy, oil and gas and infrastructure industries as well as with pension and investment funds. In December 2009, T&C entered into an agreement to operate in association with Mayer Brown LLP and become "Tauil & Chequer Advogados in association with Mayer Brown LLP."
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