Refis boosted the Union's coffers by almost R$ 20 billion.
Only the mining company Vale paid R$ 6 billion, corresponding to the first installment of a total of R$ 22,3 billion in debts related to profits earned in other countries. Although the company disclosed the information, the tax authorities could not confirm it in order to preserve the tax secrecy of taxpayers.
Wellton Maximo
Reporter from Agência Brasil
Brasilia – The reopening of the installment plan for taxpayers' debts to the Union, known as the Crisis Refinancing Program, and the creation of two extraordinary installment plans for financial institutions and multinationals yielded R$ 20,376 billion to federal coffers in November. The number was released today (6) by the Secretary of the Federal Revenue, Carlos Alberto Barreto.
Advanced yesterday (5) by Finance Minister Guido MantegaThe amount exceeds all government expectations. Initially, the Federal Revenue Service predicted that the extra revenue, with the three installments, could be between R$ 7 billion and R$ 12 billion. On the 20th, the Ministry of Planning revised the projection to R$ 16,3 billion.
According to Barreto, the amount collected surprised the economic team. He acknowledged that the tax authorities' estimates were conservative. "Our forecast was indeed conservative. We couldn't anticipate the taxpayer's behavior, who saw the opportunity to avoid lawsuits and was attracted by the reduction in penalties [fines and interest] in installment plans. It was an advantage we couldn't measure," he explained.
The installment payment plan for the Social Integration Program (PIS) and the Contribution for Social Security Financing (Cofins) owed by financial institutions generated the most revenue for the government: R$ 12,076 billion, of which almost all, R$ 12,061 billion, was paid in cash with a 100% discount on fines. According to Barreto, the financial institutions' ability to finance their own resources encouraged the immediate settlement of debts.
The refinancing of PIS/Cofins also includes the debt of companies that question the inclusion of the Tax on the Circulation of Goods and Services (ICMS) embedded in the price of goods in the tax base of these two taxes. In this modality, the government collected R$ 614,95 million, of which R$ 612,99 million was paid in cash.
The installment payment of Corporate Income Tax (IRPJ) and Social Contribution on Net Profit (CSLL) levied on profits abroad by Brazilian multinational companies yielded R$ 7,572 billion, but the Revenue Service was unable to specify how much of this amount was paid in full or in installments over up to 180 months (15 years) due to an error in the payment code.
Only the mining company Vale paid R$ 6 billion, corresponding to the first installment of a total of R$ 22,3 billion in debts related to profits earned in other countries. Although the company disclosed the information, the tax authorities could not confirm it in order to preserve the tax secrecy of taxpayers.
The deadline to request installment payments for PIS/Cofins and taxes on multinational profits ended on November 29th. Adherence to the reopening of the Crisis Refinancing Program (Refis da Crise), which covers debts of any nature with the Federal Revenue Service and the Attorney General's Office of the National Treasury, is open until December 30th. In November, the government collected R$ 112,97 million through this installment plan, of which only R$ 16,21 million was paid in full.
According to Barreto, many taxpayers are waiting until the end of the year to join the reopening of the Crisis Refinancing Program. “We are still communicating with taxpayers and making collections. Many are finalizing their participation, but in addition to the upfront payment option, we will have a payment plan that will boost revenue going forward,” he explained.