Keywords: Rio de Janeiro, deadline, tax debt payment program, tax deficiency notices

Decree No. 44,974/2014 was published in the Official Gazette on September 30, 2014. The Decree extends until November 30,2014,the deadline to enroll in the Tax Debt Payment Program for the State of Rio de Janeiro, which was established in Decree No. 44,780/2014 and ICMS Convention No. 128/2013.

The Tax Debt Payment Program allows for prompt payment, or payments of up to 120 monthly installments, of ICMS liabilities that had been due by July 31,2014, with reduced fines and interest.

Moreover, the Decree allows the payment, with reductions of fines and interest, of part of the liabilities on tax deficiency notices not yet executable, when complying with the conditions established in act to be issued by the State Treasury Office.

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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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This article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein.