The Provisional Measure 766/2017, which established the Tax Regularization Program (“PRT”), was published in the Official Gazette of 05/01/2017, in accordance with what had already been announced by the Ministry of Finance in December 2016.
The PRT allows individuals or legal entities to regulate debts of a tax or non-tax nature, registered or not in active debt, due by November 30, 2016. Adherence to the TRP must be made within a period of up to 120 days, counted from (“RFB”) and by the Attorney General of the National Treasury (“PGFN”), which shall be published within 30 days from 05/01/2017.
The PRT covers debts subject to previous installments, in administrative or judicial proceedings, as well as the totality of debts payable in the name of the taxable person as taxpayer or liable party. Provisional Measure 766/2017 allows debts from future launches to also be settled through the TRP, provided that the 120-day deadline for adherence is respected.
The taxable person who joins the PRT may pay debts in one of the following ways:
I. In the case of debts registered or not as an active debt:
(A) Cash and cash payment of 20% of the amount of the consolidated debt and installment of the remaining balance in up to 96 monthly and successive installments;
(B) Payment of the consolidated debt in up to 120 monthly and successive installments, based on minimum percentages applied on the consolidated value.
The installment of debts registered in active debt whose consolidated value is less than R $ 15 million does not depend on presentation of guarantee. However, the installment of debts that exceed this amount depends on the presentation of letter of guarantee or insurance judicial guarantee.
II. In the case of debts not registered as an active debt:
(A) Cash and cash payment of at least 20% of the value of the consolidated debt and settlement of the remaining balance with the use of tax loss carryforwards and CSLL negative calculation basis or with other own credits related to the taxes levied By RFB;
(B) Payment in kind of at least 24% of the consolidated debt in 24 monthly and successive installments and settlement of the remainder with the use of tax loss carryforwards and CSLL negative calculation basis or with other own credits related to the administered taxes By RFB.
In the settlement of debts, tax loss carryforwards and CSLL tax loss carryforwards calculated up to 12/31/2015 and declared until 06/30/2016 may be used.