Panel SA: São Paulo will use a taxpayer’s note to release accumulated ICMS credit

The method of classifying taxpayers to expedite the return of ICMS accumulated credit in the Nos conforme program, of the São Paulo Treasury Department, was regulated last week.

According to the model, companies are classified according to their tax behavior history, in categories ranging from A+ to E. Those that reach the highest level will have procedures simplified.

Companies with category A+ will be able to have their requests for accumulated credits released without preliminary tax verification or presentation of guarantees. Whoever is in categories A or B will be released, respectively, of 80% and 50% of the value of the orders, being able to request the remaining portion through the presentation of guarantee.

For the Secretary of Finance, Felipe Salto, the classification of taxpayers gives security to the São Paulo tax authorities to accelerate the process.

“The ICMS has a series of inefficiencies. We are definitely correcting one of the most worrying ones, the return of the withheld tax”, says the secretary.

According to him, the task force created by the government in June increased the number of visits by ten times.

“At a time of high interest rates, by the federal government, with an inevitable blow to investments, São Paulo responds by returning taxes and increasing liquidity. This irrigates the productive system favoring private investment”, he says.

Joana Cunha with Paulo Ricardo Martins and Diego Felix