The State of São Paulo has passed Decree No. 58,388/2012. The Decree was published in the State Official Gazette on September 15, 2012, and revokes State Decree No. 53,574/2008 effective as of October 1, 2012. Consequently, it also modifies the tax regulation relating to the Incentive Program for the Oil and Natural Gas Production and Exploration Industry in the State of São Paulo.
The new Decree creates new rules for taxation on ICMS in transactions relating to REPETRO, as provided in ICMS CONFAZ Convention No. 130/07. The Decree seeks to harmonize the laws of São Paulo with the tax benefits provided by other states to secure that the Taxpayers of the State of São Paulo are equally competitive.
The Decree reproduces in general the same rules contemplated by Decree 53.574/2008, and introduces a few novelties, as follows:
For more information, please contact , or .
You have no pages selected. Please select pages to email then resubmit.