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Legal Update

SAO PAULO - ICMS - Special Installment Program (PEP)

3 January 2013
Tauil & Chequer Legal Update

By means of Decree nº 58.811/12, published in the Official State Gazette of 28/12/2012, the State of Sao Paulo implemented the Special Installment Program (PEP) for ICMS tax debts.

PEP provides for discounts on the settlement of ICMS liabilities arising from events that occurred up to 31.07.2012, as follows:

(A) if the payment is made in a lump sum, a 75% reduction in the updated value of punitive and late payment fines is granted, together with a 60% reduction in interest, or

(B) if the payment is made in up to 120 consecutive monthly installments, a 50% reduction in the updated value of punitive and late payment fines is granted, together with a 40% reduction in interest.

The settlement of ICMS debts, whether already assessed or not, or enrolled as outstanding debt or not, also applies to debts ​​spontaneously reported to the tax authorities and certain ICMS liabilities of taxpayers subject to the rules of the National SIMPLES Scheme.

Taxpayers may apply for the PEP from March 1 to May 31, 2013.

For more information, please contact or .

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