On December 10, 2018, Normative Instruction RFB No. 1,855 ("IN RFB No. 1,855/2018") was published in the Official Gazette, regulating the Special Tax Regularization Program ("PERT") in order to require taxpayers to provide information necessary for the consolidation of debts under the program.

Taxpayers who have joined the PERT for the purposes of regularization of debts with the Brazilian Federal Revenue Service ("RFB") (except social security debts) in a lump sum payment or installments, are required to provide the following information to the RFB: (i) debts included in the PERT; (ii) number of intended installments; (iii) the total amount of credit arising from tax loss carryforwards and negative CSLL calculation basis, if applicable; (iv) number, accrual period and the value of the electronic return request through the program PER/DCOMP, related to other credit used in PERT, if applicable.

Such information must be provided exclusively on the RFB´s website during business days between December 10 and 28, 2018, from 7:00 a.m. to 9:00 p.m.

Once the abovementioned information has been provided, the consolidation of PERT will only become effective if, by December 28, 2018, the taxpayer has made the payment of: (i) a minimum of 20% of the consolidated debt upfront, in the event of opting to use the tax loss carryforwards, negative CSLL calculation basis credit, or other credit, if the entire residual balance has been settled using credit; (ii) a minimum of 5% of the consolidated debt upfront, in the event of opting for a lump sum payment made over five monthly and successive installments, provided that the residual balance has been settled using credit; (iii) all payments or installments due by the referred date, in case of other payment methods.

The Regularization Program will be deemed granted on the date on which the information necessary for the consolidation is completed, and provided that the taxpayer has complied with the requirements for payment described above, following which the effects shall be retroactive to the date of adhesion to PERT.

Finally, it is worth emphasizing that non-compliance with the provisions set forth by IN RFB No. 1,855/2018 will result in the exclusion of the taxpayer from the program and, consequently, the continuation of collection of such debts by the RFB.