Government of São Paulo to release ICMS on the transport of goods for export
Folha de S. Paulo
The Government of the State of São Paulo will soon announce the exemption of ICMS (State Sales and Services Tax) on the transport of goods intended for export. Currently there is the levying of 12% of ICMS on services. The Government of São Paulo will be only one to grant this benefit to the exporting sector. The measure applies to any modal, road or rail. "On the export, there is no assessment of the tax, but it is levied on the rendering of the transportation service [12%] from the plant to the place where it will be shipped abroad", according to the Secretary of Finance of São Paulo Mauro Ricardo Costa.The ICMS value that ceases to be charged in the operation may get to R$ 250 million (US$ 147.1 million) a year. For the technical area of the Secretariat, it is not tax waiver. The measure was expected for today, but, according to the Secretariat of Finance, the date of signature of the decrees has not been defined yet. Other measures that should be announced soon are intended to prevent the accumulation of credits "on specific chains", according to Mauro Ricardo. The Secretary has not informed what sectors will benefit from the decision.