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Legal Update

Brazil: Ordinance PGFN/RFB No. 550/2016: Consolidation of Social Security Debts Included in the Special Installment Program

14 April 2016
Tauil & Chequer Legal Update

On April 12, 2016, Ordinance PGFN/RFB Nº 550/2016 was published in the Official Gazette, establishing the terms and procedures to be adopted for the consolidation of social security debts included in the so-called “REFIS da Copa” special installment program, which had been paid in installments or paid in cash with tax losses, as outlined in Section 2of Law No. 12,996/2014, 34 and 40 of Provisional Measure No. 651/2014 and by Administrative Ruling No. 13/2014.

This consolidation should be performed on the websites www.receita.fazenda.gov.br or www.pgfn.gov.br between June 7 and June 24, 2016. The taxpayers are required to inform: (i) the debts paid in cash with tax losses; (ii) the debts paid in installments and the number of installments; and (iii) the amount of tax losses compensated for.

If paid in installments, all the installments due until the month prior to the consolidation period must have been paid before the consolidation. If payed in cash with tax losses, the whole balance due must have been paid before the consolidation.

If the taxpayer intends to include open debts related to other installment programs in the REFIS da Copa, it must formally withdrawal the judicial suit and renounce any rights relayed to it before May 6, 2016.

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