Two relevant rules concerning the ICMS Term-Payment Program (“PEP”) – which reduces interest and penalties on ICMS and ICM debts - were published in June 4th, 2013.

Decree No. 59,255/2013 extended until August 31, 2013 the term to adhere to the ICMS PEP. And Decree No. 59,254, of June 3rd, 2013, included the possibility to use the withheld tax that would be reimbursed to pay these debts, in accordance with a ruling to be issued by the State Treasury and by the State Attorney.

Furthermore, it provided that concerning debts already enrolled, the adhesion to the PEP must be made concerning: (i) all the debts of one Enrollment Certificate, or (ii) all Enrollment Certificates, when they are grouped into one tax foreclosure.

(Decree No. 59,254 and Decree No. 59,255, 06.03.2013, Official Gazette/SP 06.04.2013).