Keywords: CONFAZ ICMS convention, tax amnesty, ICMS debts, tax debts

On 03/26/2014, the ICMS Convention # 21/2014, enacted by the National Finance Policy Council – CONFAZ – was published in the Official Gazette; it modifies the ICMS Convention # 128/2013. The new Convention authorizes the State of Rio de Janeiro to implement a Tax Amnesty Program to waive or reduce penalties and interest related to ICMS debts.

The main modification is the extension of the benefit to tax debts due by December 31, 2013. In addition, the final term for the tax events where respective debts were voluntarily reported or notified by the taxpayer to the State treasury office was also extended to December 31, 2013.

Finally, the Convention also extended to November 30, 2014, the final date which the state legislation may grant to taxpayers for application purposes. So far the State of Rio de Janeiro has not yet enacted such law.

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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.