The State of São Paulo published Decree No. 65,156/2020, which established October 31st and December 31st as deadlines for several ICMS tax benefits based on Agreements among States.
Accordingly, as from November 1st, 2020; and January 1st, 2021; ICMS tax benefits included in Annexes I (exemption); II (reduction of the tax calculation base); and III (credit granted) of the São Paulo State ICMS Regulation will lose their validity.
The end of these benefits will reach several industries, including the agricultural sector, specifically in relation to transactions with agricultural inputs, machines and implements.
We remain available for any clarifications