OSLO, NORWAY--(Marketwire - Aug 28, 2012) - The State of Pará in Brazil has decided
that, effective from September
10, 2012, ICMS tax will again be collected from the fuel oil
distributors, exempting Hydro's alumina refinery Alunorte from the ICMS
tax.
A change took place March 1, 2012, changing the collection point for ICMS
tax
from distributors to oil refineries. As reported for second quarter 2012
this
increased Alunorte's costs by approximately NOK 150 million for the
quarter.
The amendments now decided by the Governor of Pará will exempt
Alunorte from the
ICMS tax on fuel oil, as was also the case prior to March 1, 2012.
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Source: Norsk Hydro via Thomson Reuters ONE
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