The Secretariat of Finance and Planning of the State of São Paulo (Sefaz-SP) published, this week, Ordinance CAT No. 03/2022, which regulates the first round of authorization for the transfer of accumulated credit from the Credit Liquidity Expansion Program for Taxpayers with a History of Acquisitions of Goods Intended for Fixed Assets (ProAtivo).  

The program, created by the State of São Paulo during the pandemic, aims to grant greater liquidity to companies that have invested in permanent assets (real estate and machinery) in recent years, in order to facilitate the receipt of accumulated ICMS credit.  

In this first round, ICMS taxpayers from any economic sector will be able to join the program between January 12 and February 11, 2022, through the Electronic Petitioning System (SIPET). The maximum authorized amount will be R$10 million per company, to be calculated based on the information provided by taxpayers in the ICMS Information and Calculation Guides (GIA). The overall limit for credit transfer will be R$120 million.  

Among the requirements set forth in Article 7 of the Ordinance, the taxpayer must: (i) tacquired goods intended for fixed assets in the 48-month period ending in November 2021; (ii) have all establishments in good standing with the São Paulo State Taxpayer Registry (CADESP); (iii) have no ICMS tax debts that prevent the use of accumulated credit; (iv) have an accumulated credit balance equal to or greater than the value of the order enabled in the current account of the accumulated credit control system (e-CredAc System). 

After the requirements have been verified, taxpayers will be notified of the decision through the Taxpayer's Electronic Domicile (DEC) and, if positive, the amounts will be released on a schedule yet to be defined, respecting the monthly limit of R$40 million.