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:
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.