São Paulo, 28 – The government of São Paulo is holding, next Thursday, July 1st, the auction of 250 shares of accumulated credits of the Tax on the Circulation of Goods (ICMS) in the amount of R$ 38 million. The event is organized by the Desenvolvimento SP bank.
The auction will be electronic and will take place from 10 am to noon, via the B3 platform. To participate, those interested must send a statement until this Tuesday, 29.
ICMS credits from poultry institutions that used the tax as a guarantee for financing and did not pay by the end of the payment period will be used to cover such debts and auctioned with an initial discount of 8%. The operation settles the debt of the poultry farmers and benefits the companies that buy the auctioned quotas.
The ICMS auction is an opportunity to reduce tax expenses for companies.
Companies that are ICMS taxpayers in the State of São Paulo that submit proposals with an initial discount of 8% per share are eligible to participate in the event.
The notice for the new auction with all deadlines and information is now available on the Desenvolvimento SP website.
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