Brazil Establishes New Tax Debt Settlement Scheme

Brazil's Attorney General of the National Treasury has introduced a new tax debt settlement scheme known as QuitaPGFN. The scheme allows tax debts that are negotiated in a transaction agreement signed by 31 October 2022 and tax debts registered as active debts (litigated debts) to be settled in advance under the following conditions:

• the taxpayer must pay at least 30% of the outstanding amount owed, which may be paid in up to 6 (six) monthly installments of at least BRL 1,000 each, or in th…