- CONFAZ ICMS Convention No. 63/2014: Tax Amnesty Program for the State of Sergipe
- July 17, 2014 | Authors: Carolina M. Bottino; Ivan Tauil
- Law Firm: Tauil & Chequer Advogados in association with Mayer Brown LLP - Rio de Janeiro Office
On 07/11/2014, ICMS Convention No. 63/2014, enacted by the National Finance Policy Council - CONFAZ - was published in the Official Gazette. It authorizes the State of Sergipe to implement a Tax Amnesty Program to waive or reduce penalties and interest related to ICMS debts due by December 31, 2013.
The tax amnesty program applies to all debts where tax events had occurred up to December 31, 2013, regardless of whether or not having been assessed or enrolled among collectible debts, including those which are subject to ongoing lawsuits or installment payment programs.
The payment of fines and interest arising from default on tax liabilities may be effected with a reduction ranging from 50% to 95%.
The application period, as well as the formal procedures to be adopted for application purposes, shall be determined by a State Law, which has not been enacted yet.
We remain at your entire disposal to provide any clarification that might be required.