Government sees a loss of R$ 8.1 billion with injunctions to compensate ICMS to the States
The Ministry of Economy estimates the loss of revenue at R$ 8.1 billion with the decisions of the Federal Supreme Court (STF) that ensured immediate compensation to States with the reduction of ICMS rates on fuel, electricity and communications. This value considers the injunctions already obtained by São Paulo, Alagoas and Maranhão. Piauí also had its request accepted by the STF. The National Committee of State Finance Secretaries (Comsefaz) expects a ripple effect with other governors achieving the same.
The reduction of the ICMS rate, with a ceiling between 17% and 18%, was approved by Congress through Bill 18. By law, the federal government is obliged to compensate the States when the loss of revenue from the tax exceeds the percentage of 5%, compared to the revenue recorded in 2021.
The administration, however, understands that Congress has determined that the comparison must be made on the basis of full-year revenues. As a result, compensation, if necessary, would only occur in 2023.
In addition, data from the Ministry of Economy show that all states had a nominal increase in collection in the first six months of 2022, compared to the same period last year.
According to this survey, the highest increase was registered by Pará, with an increase of 33%, while the lowest was registered by Rio de Janeiro, with growth of 3%. In São Paulo, the increase in ICMS collection was 17%. The economic team believes that compensation would not be necessary in view of this increase in collection already registered in the first semester.
The information is from the newspaper. The State of São Paulo.