Giulia Keese Montanhesi
Lawyer at Marcos Martins Advogados
On August 6, 2020, the 15th Chamber of Public Law of the São Paulo State Court of Justice ruled[1] that in the case of property used to pay in share capital, the basis for calculating ITBI is the venal value of the goods or rights transferred. Venal value means the purchase and sale value of the property or the value used for IPTU calculations.
The “reference value”, unilaterally arbitrated and long used by municipalities to set the tax base, was therefore ruled out.
The TJSP’s latest ruling, reported by Judge Rezende Silveira, involved assets intended to pay up the share capital of an asset holding company in the city of Ubatuba, whose corporate purpose is the management, exploitation, purchase and sale of real estate, reaffirming IRDR No. 2243516-62.2017.8.26.0000 (Theme 19 of the TJSP) and the understanding that any different assessment violates the principle of legality.
This decision continues to consolidate jurisprudence favorable to the issue and to taxpayers.
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[1] TJSP – Appeal no. 1001256-14.2019.8.26.0642, 15th Chamber of Public Law, Rapporteur Rezende Silveira, Judged on 08/06/2020.
