Tax Regularization Program 2017
Federal Revenue Service regulates payment of debts
The Tax Regularization Program
The Tax Regularization Program (PRT), established by Provisional Measure No. 766, dated January 4, 2017, allows individuals and corporations to pay their debts of a tax nature or not, due by November 30, 2016, whether constituted or not, arising from previous installments terminated or active or in administrative or judicial discussion, as well as debts arising from official postings made after November 30, 2016.
Normative Instruction of the Federal Revenue Service of Brazil (RFB) No. 1687/2017, published on January 31, 2017, regulated the PRT, determining the period from February 1, 2017 until May 31, 2017 to join the Program. The objective of the program is to enable companies and citizens to regulate their fiscal situation towards the National Treasury.
Among the methods of settlement of debts, a credit option was granted with the Federal Revenue Service, as long as the payment is made in cash and at least 20% of the value of the consolidated debt. If the taxpayer has not been assigned, the installment of the debt must be made up to 120 scaled installments.
The minimum amount for the monthly installment will be R$ 200.00 (two hundred reais) for individual and R$ 1,000.00 (one thousand reais) for legal entity.
The adhesion to the PRT must be made through an application to be submitted to the Attorney General of the National Treasury (PGFN).
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Source: Normative Instruction No. 1687/17.