A decision handed down by the Special Appellate Court of the State of São Paulo has been recently published concerning the unconstitutionality of the provisions of Law n. 13.918/2009 of the State of São Paulo, (arts. 85 and 96) which set forth a delay interest of 0.13% per day, with no limit, to the ICMS and respective fines charged (36% per year).

Such decision acknowledged that the law exceeded the limit established by the federal legislation (SELIC rate). On April 13, 2013, Collection Board Rule n. 22 reduced this interest rate to 0.03% per day, or 0.93% per month, still higher than the SELIC rate.

Thus, the State of São Paulo ignored the opinion of the State Court, and taxpayers must continue seeking relief in court with respect to the delay interest applied to the ICMS debts.

(Motion for Clarification n. 0022787-49.2009.8.26.0053/50002).