Rui advances R$ 184 million in ICMS (Value Added Tax) to municipalities.
The state government has advanced R$ 184 million in ICMS (Value-Added Tax) revenue to the 417 municipalities of Bahia, which, according to the constitutional transfer schedule, would only be transferred in January. "We worked hard throughout the year and reached the end of 2016 in a position to advance this transfer. Today, I reaffirm our commitment to guaranteeing the transfers and full payment of the State's commitments to the municipalities next year," says Governor Rui Costa. The Secretary of Finance, Manoel Vitório, assesses that "the advance payment has provided a boost to the municipalities' coffers at the turn of the year, when everyone is facing the challenges of the economic crisis."
Bahia 247 - The state government has advanced R$ 184 million in ICMS (Value-Added Tax) revenue to the 417 municipalities of Bahia, which, according to the constitutional transfer schedule, would only be transferred in January. It has also advanced the allocation of R$ 112,2 million to the Fund for the Maintenance and Development of Basic Education and the Enhancement of Education Professionals (Fundeb), with resources coming from the three state taxes (ICMS, IPVA, and ITD).
The advance payment of the total of R$ 296,2 million, on Thursday (29), was made possible after an agreement between the State and Banco do Brasil and concerns state revenue between December 26 and 28. On January 3, the quotas relating to the collection of state taxes on December 29 will be transferred, the last day with banking operations in 2016.
"We worked hard throughout the year and reached the end of 2016 in a position to anticipate this transfer. Today, I reaffirm our commitment to guaranteeing the transfers and full payment of the State's commitments to the municipalities next year," says Governor Rui Costa.
The State Finance Secretary, Manoel Vitório, believes that "the advance payment has provided a boost to the municipalities' coffers at the turn of the year, when everyone is facing the challenges of the economic crisis."
Among the municipalities, Salvador received the largest share of the anticipated ICMS (Value Added Tax): R$ 26,1 million. Other significant transfers went to Camaçari (R$ 15,7 million), Feira de Santana (R$ 8 million), Vitória da Conquista (R$ 3 million), Itabuna (R$ 2,5 million), Ilhéus (R$ 2,1 million), and Juazeiro (R$ 2,1 million).