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IN 1,687/17 - Regulation of the PRT within the Federal Revenue

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2/2/2017 12:00 AM Demarest News

IN 1,687/17 - Regulation of the PRT within the Federal Revenue

The Provisional Measure 766/2017 established the Tax Regularization Program (Programa de Regularização Tributária - "PRT"). The general aspects of the PRT have already been commented by us in the Release published on January 5th, 2017.

On February 1st, 2017, the Normative Ruling No. 1,687 ("IN 1,687/17") was published, which regulates the PRT within the scope of the Brazilian Federal Revenue ("RFB"). We list below certain aspects of such ruling:

  • It is possible to include tax and social security debts constituted or not within the PRT, which was not expressly mentioned in the Provisional Measure 766/2017.
  • The adhesion to PRT must be made from February 1st, 2017 to May 31th, 2017, by means of an electronic application registered on the RFB website.
  • The electronic adhesion to the PRT regarding social security debts (which are not collected through DARF - Collection Document) will be different from the one applicable to the other debts managed by the RFB.
  • After the adhesion, taxpayers must comply with all the procedures related to the consolidation of the installments and/or cash payment, and for the use of the credits (net operating losses/negative basis of Social Contribution on Profit - CSLL/own credits related to federal taxes).
  • It is possible to question administratively the exclusion of the PRT, provided that the installments still due continue to be regularly paid.

The regulation of the PRT within the scope of the National Treasury Attorney's Office has not yet been published.

It is worth mentioning that on February 2nd, 2017, an adjustment to the Provisional Measure 766/2017 was published, which corrected the date of statement (July 29th, 2016) of the net operating losses and negative basis of CSL that can be used within the PRT.

Our Tax and Social Security departments are keeping track of the regulations and measures related to the PRT, being completely available to clarify any doubts on the subject.

Demarest Advogados

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