State Of São Paulo Launches New ICMS Special Payment Program

The Government of the State of São Paulo, authorized by of ICMS Agreement 152/2019, established a new Special Installment Program, for the settlement of ICMS tax debts arising from taxable events occurring up to May 31, 2019, enrolled as executable or not.

Pursuant to Decree No. 64,564, published November 6, 2019, debts may be settled with a reduction of (i) 75% of fines and 60% of interests in the event of payment in one installment; (ii) 50% of fines and 40% of interests in the event of payment in up to 60 installments.

Discounts on punitive fines will be increased if taxpayer chooses to join the Program to settle debt resulting from Tax Assessment not yet enrolled as executable, with a cumulative reduction of (i) 70% in the event of adhesion within 15 days from the notification of the tax assessment and payment in one installment; (ii) 60% in the event of adhesion between 16 and 30 days from the notification of the tax assessment for payment in one installment;