New ordinance related to the Causa Mortis Transfer and Donation Tax

On March 21, 2020, São Paulo State Treasury and Planning Office published a new ordinance regarding the management procedures related to the Causa Mortis Transfer and Donation of Any Assets or Rights Tax (ITCMD, in Portuguese).

The Ordinance CAT 32/2020 aims to harmonize the legal system in relation to the change occurred at the end of 2019 , which extended to three years the validity term of the Institutions Recognition Certificate and the Exemption Declaration to ITCMD.

Thus, the new ordinance alters the previous one (CAT 03/15), bringing some procedural changes such as where to submit the application for formal recognition of immunity or exemption. In addition, it adjusts the Ordinance of 2003 by stablishing the new validity term to the Declarations of Exemption Recognition to ITCMD, that is, three years.

According to Flávia Oliveira, lawyer at Mattos Filho Office, “as of the change, organizations have legal security to observe the new validity term of their Declarations”.

This article was originally published on GIFE website on March 26, 2020.

New ordinance related to the Causa Mortis Transfer and Donation Tax

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