COVID-19 | Tax And Customs Extraordinary Measures #5

As a result of the impacts caused by COVID-19, extraordinary measureses are beginning to be held by the Federal, State and Municipal governments in relation to taxes collection, compliance with ancillary tax obligations and customs procedures simplification by the responsible entities.

Among the measures effectively adopted from March 30th to April 1st 2020, we highlight the following:

Federal Government Provisional Measure No. 932/2020: reduces in 50%, until June 30, 2020, the rates of the following contributions to third parties: SESCOOP; SESI; SESC; SEST; SENAC; SENAI; SENAT and SENAR. Provisional Measure No. 930/2020: establishes that foreign currency exchange gains on hedge on investments on controlled and affiliated companies domiciled overseas, held by financial institutions, will be included in the Corporate Income Taxes calculation basis in the proportion of 50% for the calendar year 2021 and 100% from calendar year 2022. Decree No. 10.302/2020: reduces, until September 30, 2020, the rate of IPI levied on the listed medical and hospital products to 0%. . Decree No. 10,305/2020: reduces the rate of the IOF levied on credit transactions contracted between April 3, 2020 and July 3, 2020 to 0%, including the additional IOF rate of 0.38%. The benefit also applies to novation, extension, consolidation, admission of debt and similar transactions in which the debtor remains the same . Ordinance PGFN No. 158/2020: suspends, for 90 days, the notifications of administrative collection and protest of debts enrolled for judicial collection, with the exception of those issued to avoid the passing of statute of limitations. Ordinance PGFN No. 8.792/2020: maintains, until December 31, 2020, the minimum amounts set forth for payments in installments by Ordinance PGFN No. 448/2019. Normative Instruction No. 1,930/2020: Extends the deadline for filing the Individual Income Tax Return to June 30, 2020. It also repealed the obligation to inform, in the Return, the number of the receipt of the last filed return. State and Federal District Acre: State Decree No. 5.630/2020: suspends, for 60 days, the deadines for compliance with administrative procedures. Authorizes the State Attorney General's Office to suspend, for up to 90days, acts related to the collection of ICMS, including (i) extrajudicial protest of debts; (ii) filing of new tax foreclosures (except those aimed to avoid the passing of statute of limitations) and (iii) requiring patrimonial...