National Treasury of Brazil enacts program for early settlement of debts and overdue tax liability registrations

On October 7, the Federal Treasury Attorney-General's Office (PGFN) published Ordinance No. 8,798/2022, implementing the Program for Early Settlement of Federal Debts and Overdue Tax Liability Registrations (QuitaPGFN).

In view of the country's current economic and financial crisis, the program is aimed at restoring delinquent taxpayers to good status. Thus, the program allows the settlement of tax debt balances and the negotiation of debts registered as overdue tax liability whose recoverability have been deemed difficult or impossible. Payments must be made in cash or through the use of negative social contribution on net income (CSLL) tax basis. In this way, the following debts can be paid in advance:​

• balances of overdue debt settlement agreements in good standing signed up to October 31, 2022; and
• debts registered as overdue federal tax liability up to October 7, 2022.

Interested parties must meet the legal requirements to settle those debts, bearing in mind that applications will be received through the REGULARIZE portal from 8 a.m. on November 1, 2022 to 7 p.m. on December 30, 2022. Applications submitted after this deadline that involve the early settlement or the use of tax credit losses and negative CSLL tax basis will follow the standard procedures set forth under the PGFN Ordinance No. 6,757/2022 .