The state of São Paulo has created a state VAT (ICMS) payment schedule with significant discounts and long-term payment terms. The payment schedule offers options for installment payments over 12, 120, or 180 months, and discounts of up to 75% for penalties and up to 60% for interest. Payment terms and conditions were established in state Decree 51,960 of July 4 and apply to ICMS tax debts due by December 31, 2006. Applications will be accepted online through September 30, 2007.
15Jul 2007