Last week, the State of Rio de Janeiro instituted the Special Tax Credit Installment Program of the State of Rio de Janeiro (“PEP-ICMS”), which applies to ICMS debts (except those collected by tax substitution), IPVA and ITD (Tax on inheritance and donation of any property or right), registered or not in the Debt Roster, for which taxable events have occurred before 31 August 2020.
The PEP-ICMS stems from the authorization granted by the ICMS Agreement No. 87/2020 and was instituted by the State Complementary Law No. 189, published on 29 December 2020. The program provides for the reduction of penalties and late payments and does not apply to debts of taxpayers opting for Simples Nacional.
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