The São Paulo Tax Court (TIT) approved the six digests as proposed. With the measure, new judgments shall follow the guidelines, what may help to speed up the court´s decisions, says attorney Marcelo Fortes, of Machado, Meyer, Sendacz e Opice.

Among the digests that were approved, is the one that guarantees full offsetting of ICMS credits regarding the purchase of merchandise from another state. The digest applies when the purchaser is a taxpayer in São Paulo and the resale takes place within the state of São Paulo, in a transaction that benefits from reduction of the tax calculation basis. Another digest revokes monetary adjustment for ICMS credit balances. The measure also applies to the adjustment of out of date credits.

Sources:   Valor Econômico/B2 - July 28, 2003
Date of insertion:   28/07/2003 - 16:15:05