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26 Mar

Possible Deferment of Taxes for Companies in the Tax Regimes of Actual Profit (Lucro Real) and Estimated Profit (Lucro Presumido)

Due to the crisis caused by the current pandemic, we know the cash flow of companies have been thoroughly affected. For this reason, measures such as the postponement of utility bills (rent, water, electricity and others) are being adopted all over the world.

Recently, the Brazilian Federal Government postponed the due date of taxes for companies in the tax regime of “Simples Nacional”. There were no publications related to any measures in these terms for taxes owed by companies that are not in the above-mentioned tax regime.

However, in 2012, the Ministry of Economy published the Ordinance MF n. 12/2012, which postpones all due dates of federal taxes, including payments in installments, in case of a state decree that declares state of public calamity, as is the current case.

According to the decree, in the month that the event that causes calamity occurs (or in the months that such event is taking place) the due date of federal taxes shall be postponed to the last business day of the third following month. The postponement exempts such payment from being subject to penalties and interest regarding such period.

Nevertheless, this measure has not been implemented by the Ministry of Economy yet and there is reason to believe that such measure will be revoked. Even if the ordinance is revoked, we understand that the simple pairing of the measure prior validity with the issuance of the state decree is enough for the immediate production of legal effects.

However, we understand that such plea would only be granted by judicial means, with petition for court injunction (mandado de segurança). Therefore, for the companies that need financial relief at this moment, we recommend the filing of such claim.

We are at your disposal to assist you with the cost benefit assessment regarding the potential risks of such claim, as well as with the filling of such claim on behalf of companies.

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