On November 19, 2015, State Law No. 10,439/2015, approved by the Governor of the State of Espírito Santo, was published in the Official Gazette, establishing a tax amnesty program to waive or reduce penalties and interest related to unpaid state taxes. The program was authorized by ICMS (Value-Added tax) Convention No. 127/2015, passed by CONFAZ, the National Finance Policy Council.

The Tax Amnesty Program authorizes the payment of fines and interest arising from default on principal and ancillary tax-related obligations, with a reduction ranging from 40% to 90%, depending on several factors, such as the number of installments and the total amount of the debt.

Despite the fact that it merely reestablishes the Tax Amnesty Program previously instituted under Law No. 10,376/2015, the Tax Amnesty Program applies to all debts relating to taxable events that occurred up to September 30, 2015, irrespective of whether or not such debts have been the subject of assessment notices or have been posted as readily collectible, including any tax debts subject to ongoing legal proceedings or instalment payment plans.

The final date for application to benefit from the Program is February 29, 2016.