Less than a year after approving a major tax amnesty for state VAT (ICMS) taxpayers, São Paulo, Brazil’s most developed state, has introduced another tax payment schedule with significant discounts and payment terms of up to 15 years. The new payment schedule offers options for installment payments over 12, 120, or 180 months, and discounts of up to 75 percent for penalties and up to 60 percent for interest. The payment terms and conditions, established in state Decree 51,960, apply to ICMS tax debts due by December 31, 2006.
15Aug 2007