Brazilian Court Tosses Restriction on Tax Debt Payment Plan

Large companies in Brazil, including multinational subsidiaries, have received a major present from two rulings by the Superior Court of Justice (STJ).

Brazil’s second highest appeals court ruled that large companies with tax debts in excess of $270,000 can sign agreements with the revenue service to pay their debts over a period of 60 months. This is considered the most favorable payment plan available for companies, but the revenue service has refused to permit companies with large debts to sign up.

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