STF judge using ICMS credit obtained in the export process

SAO PAULO - The Brazilian Supreme Court (STF) will decide on the effect of general repercussion if companies can take advantage of tax credits on Circulation of Goods and Services (ICMS) obtained from the cost of goods used in jail production of goods for export. The decision should guide all courts in the country.

In case, it is an extraordinary resource of the State of Santa Catarina against the decision of the Court of Justice of the State (TJ-SC), who released the performance in favor of a company.

On appeal to the Supreme, the State argues that the decision of TJ-SC violated the Constitution because it only exempts from VAT transactions that are intended for outdoor goods and services provided to recipients abroad. It also argues that, under the Constitution, it is the complementary law regulate the system of tax compensation.

The state of Santa Catarina argues that the deadlines for the compensation set by the Supplementary Law No. 87 of 1996, were not respected by the decision of TJ-SC. The court also assured the right to credit related to transactions in the five years preceding the filing of the suit. The State also challenges the Selic rate restatement of the value of such credits prior to the filing of the action.

The appeal will be rapporteur of the Minister Luiz Fux.

Source: Valor Economico

News of the desired segment

See full list of news