The way of using ICMS’ accrued tax credits is linked to each state’s particular laws. Brazil has 26 states and then there are 26 different ICMS regulations. Although decisions regarding ICMS disputes are made by a Federal Council – CONFAZ, and the ICMS itself is backed by the country’s Constitution, theoretically local regulations should just establish rules on applying what is stated by the major laws. However, something different actually happens and many regulations overact heir own jurisdiction, imposing limits to transferring ICMS credits which are not determined by the Brazilian Constitution.
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Moinhos de Vento - Porto Alegre - RS
CEP 90430-000 Phone: +55 (51) 3041.1681 | 3072.2020