Keywords: tax amnesty program, Rio de Janeiro, ICMS debts
On 07/03/2014, in the Official Gazette of Rio de Janeiro, State Decree No. 44.886/2014 was published. It modifies the previous ruling concerning ICMS Convention No. 128/2013. This 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 due by December 31, 2013.
Decree No. 44.886/2014 postponed to 08/01/2014 the initial date to apply to the Tax Amnesty Program in case of payments in cash or in installments. The final date for application purposes was maintained at 09/30/2014.
In addition, the Decree also disallowed the inclusion in the Tax Amnesty Program of tax debts that have been benefited by State Law No. 5.647/2010, which permitted their discharge through the offset with writs of payment of government debts (precatórios).
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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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