DECREE (SP) Nº 62.741 / 2017 – FULL ICMS (STATE TAX) CREDIT APPROPRIATION OF “SAT”

Decree No. 62,741, which amends Decree No. 61,521/2015, was published in the Official Gazette of the State of São Paulo (“DOE”) on August 1, 2017, that refers to the possibility of full appropriation, in a single opportunity, of ICMS credits related to the acquisition of SAT (Authentication and Transmission System) equipment directly from manufacturers located in the State of São Paulo, for integration into property, plant, and equipment.

In the previous version, the appropriation of credits was limited to companies whose activity falls within CNAE codes 4711301, 4711302 or 472100 (hypermarkets, supermarkets, and mini-markets/warehouses). Acquisitions were limited until February 29, 2016.

The new decree, in turn, allows the appropriation of these credits without limitation of activities, extends the term for acquisitions made up to December 31, 2017, as well as the acquisitions made prior to the publication of the regulatory mechanism, in relation to remaining credit inappropriate.