On 07/03/2014, in the Official Gazette of Rio de Janeiro, State Decree No. 44.886/2014 was published. It modifies the previous ruling concerning ICMS Convention No. 128/2013. This Convention authorizes the State of Rio de Janeiro to implement a Tax Amnesty Program to waive or reduce penalties and interest related to ICMS debts due by December 31, 2013.

Decree No. 44.886/2014 postponed to 08/01/2014 the initial date to apply to the Tax Amnesty Program in case of payments in cash or in installments. The final date for application purposes was maintained at 09/30/2014.

In addition, the Decree also disallowed the inclusion in the Tax Amnesty Program of tax debts that have been benefited by State Law No. 5.647/2010, which permitted their discharge through the offset with writs of payment of government debts (precatórios).

We remain at your entire disposal to provide any clarification that might be required.