Brazilian IRS and PGFN issue public notice for transaction to pay tax debts arising from goodwill tax amortization

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On May 3, 2022, Public Notice No. 09/2022 was published in the Federal Official Gazette to authorize the transaction involving tax liabilities related to the amortization of goodwill tax resulting from the acquisition of participations in the framework of the legal regime prior to Law No. 12,973/2014 and contested in lawsuits or administrative proceedings.

This applies to tax debts whether or not they are listed as unpaid federal tax and which are the subject of administrative or legal proceedings and the dispute of which relates to:

I. Tax use of goodwill amortization charges:

  • resulting from the acquisition of holdings;
  • limited to mergers, consolidations and spin-offs that took place no later than December 31, 2017; and
  • whose participation was acquired no later than December 31, 2014 (period during which Articles 7 and 8 of Law No. 9,532/1997 were applicable, in accordance with the provisions of Article 65 of Law No. 12,973/ 2014) ; or

ii. The addition of goodwill amortization charges in the regularization of the CSLL calculation base.

The public notice stipulates that the taxpayer must pay:

  • In advance 5% of the total amount of the debt, without authorized discount, and
  • The remaining balance in up to 5 installments and up to 55 months, with forgiveness allowed depending on when the debt is repaid

Application for participation in this payment program must be filed no later than July 29, 2022, and participation involves the withdrawal of administrative defenses and remedies filed by the taxpayer in relation to such debts, as well as the waiver of legal claims. All existing deposits related to these debts will be automatically converted into federal government revenue.

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