The Governor of the State of São Paulo recently signed 11 decrees with the aim of reducing the cost of production for companies and, consequently, stimulating the economy of the State of São Paulo in order to recover from the impacts caused by the pandemic.
Among the benefits were measures that significantly reduce the collection of the Tax on the Circulation of Goods and Services – ICMS in various sectors. The reduction is expected to last until the end of 2024, the effects of which are directly related to the resumption of competitiveness in the state’s economic sector and mark the beginning of an advantageous cycle for entrepreneurs.
Among the sectors covered are food, IT, data centers, packaging and beverages, and the benefits range from exemptions and reductions in the calculation base to deferrals and credits granted.
It is important to note that this measure is not permanent and has a deadline of December 2024. For this reason, it is essential that companies benefiting from the reduction in the tax burden pay attention to changes in legislation and prepare for possible future changes.
In addition, it is important to note that each company must analyze its activities and check whether it meets the requirements established by the decrees in order to be entitled to the tax reduction.
It is undeniable that reducing the tax burden is a positive measure for the economy and for companies, but it is important that there is a careful analysis of each case to ensure that companies are complying with the legal requirements and taking advantage of the benefits appropriately.
Thus, companies need to take an active stance at this time in order to make the most of the benefits, guaranteeing a competitive advantage.
A specialized team will be able to define the strategies necessary for the company to be representative in the segment it operates in the market, thereby reducing the risks of being affected by the new taxation reality.
