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Companies may use tax credits to pay restructured debts

A Federal Court of Santa Catarina authorized a metalworking company to use PIS and Cofins tax credits to pay tax debts subject to a restructuring process. The decision comes from the Federal Court No. 4 of Criciuma. The company, a medium size company of the State of Santa Catarina, failed to pay on time to the Treasury because of its financial difficulties, therefore requested a restructuration of the debt.

As the company had, at the same time as debts, credits of PIS and Cofins pending of return by the tax administration, it filed a lawsuit to compensate with these loans the restructured debt, alleging the possibility provided by paragraphs 1 and 2 of article 70 of Decree Law N ° 2.287, 1986. Pablo Vieira Aveline, the Federal Court judge Criciuma 4, estimated the thesis of the debtor company. The news is relevant to those companies in financial difficulties that cannot wait to the analysis of claims for restitution or compensation to be resolved.

2017-09-18T16:10:03+00:00 18/02/2016|Latest news|