[Free translation]
ICMS - Credit Restriction
By means of Normative Instruction DRP No. 46/16, a change was introduced in Normative Instruction DRP 45/98, with respect to the restriction to ICMS credits related to operations with goods benefited in the State of origin, with incentives not in accordance with the Law Complementary Federal Law No. 24/75, for which the percentages of credit admitted in Rio Grande do Sul are indicated.
The merchandise mentioned in the legal act refers to cowhide and buffalo leather, wet-blue and its by-products, semi finished and finished products, from the State of Acre. This State grants a presumed ICMS credit of 41.666%. In this way, the acquirer, a taxpayer in the State of Rio Grande do Sul, may be credited with 7% of ICMS.
This amendment shall take effect on or after 1 September 2016.
Export Memorandum
By means of Normative Instruction No. 48/2016, the requirement to send the third copy of the export memorandum to the tax office was revoked.
Completion of the export memorandum is an obligation (IN 45/98, Title I, Chapter II, Section 14, Section 5.0) that commercial exporting companies, tradings or not, must fulfill when exporting products purchased for the specific purpose of provided for in the sole paragraph of art. 11 of Book I of the Regulation of the ICMS of RS.
