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ARTICLE · 18 OCTOBER 2012

Agreement ICMS Nº 108/2012—ICMS Payment Program

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The Brazilian Treasury Policy Council (CONFAZ) executed ICMS Agreement ICMS no. 108/2012.

BrazilTax
Roberta Caneca
Roberta Caneca
Marcos Muniz
Marcos Muniz
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Keywords: ICMS payment program, CONFAZ, instalment payment program

The Brazilian Treasury Policy Council (CONFAZ) executed ICMS Agreement ICMS no. 108/2012 allowing the State of São Paulo to implement an Installment Payment Program for overdue ICMS. The Program is expected to include tax debts that fell due up to July 31, 2012.

The Program is to contemplate a discount of up to 75% in tax fines and 60% in other lawful surcharges (if the debts are paid in one single installment) or 40% in tax fines and 50% in other surcharges (in case of payment in up to 120 installments). The Program is also to contemplate the following interest rates: 0.64% per month (for payment in up to 24 installments), 0.80% per month (between 25 and 60 installments) and 1% per month (between 61 and 120 installments).

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