Rio De Janeiro's Local Government Grants Tax Benefits For Offshore Industry

The State Decree no. 45.339/2015 which lays down the rules for concession of deferral of the ICMS payment in operations of acquisition of goods for fixed assets in implementation of offshore naval base projects in Rio de Janeiro has been recently published.

The benefit is applicable in the following cases:

imports of machinery, equipment, parts, pieces, and accessories intended to its fixed asset, provided that they are imported and cleared through customs in Rio de Janeiro's ports or airports; acquisition within the State of Rio de Janeiro of machinery, equipment, parts, pieces, and accessories to be included in its fixed asset Interstate acquisition of machinery, equipment, parts, pieces, and accessories to be included in their fixed asset in relation to the difference between tax rates; The decree sets out in these cases that the ICMS shall be paid on the occasion of the disposition or eventual exit of the respective goods, taking as tax base the value of the disposition.

The taxpayer who wishes to enjoy referred benefit must submit a consultation...