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The government of President Luiz Inácio Lula da Silva (PT) is planning to issue a provisional measure (MP) with alternative measures to the decree on the increase of the IOF (Financial Operations Tax). The MP will include a mechanism for the Federal Revenue Service to collect compensation for fraudulent tax debts more quickly. Currently, in such cases, the tax authority needs to go to court to try to collect the debts that were not actually paid. Through tax compensation, companies pay taxes owed with tax credits they are due to receive. The measure aims to prevent companies from using, for example, a credit from a tax benefit given to milk to compensate for a credit in the construction sector. One possibility is to impose a penalty. A PowerPoint presented by the Minister of Finance, Fernando Haddad, at a meeting with the Congressional leadership on Sunday evening, included an action to improve the rules for compensating tax credits to prevent abusive compensation. However, this measure was not discussed during the meeting, which lasted almost five hours at the official residence of the President of the Chamber, Hugo Motta (Republicans-PB). Neither was it mentioned by Haddad in his interviews after the meeting. According to reports from the Sunday meeting, no leader showed interest in the topic, focusing the debates on criticisms of the IOF decree, measures to reduce the scope of the tax increase by a third, and proposals to ensure compliance with the fiscal deficit target of zero since the year. The next morning, with the leakage of Haddad's document to market agents and law firms, concern grew that the government would restrict the use of credits. Companies are waiting for the legal text to identify the scope of the measure. The fear is that it will be another measure that may impact cash flow.
jornaldebrasilia.com.br/noticias/politica-e-poder/mp-de-haddad-deve-contar-com-medida-para-restringir-compensacoes-tributarias-fraudulentas