UNDERSTAND HOW THE TAX RECOVERY PROCESS WORKS IN BRAZIL

Tax recovery is the retrieval of taxes, fees, and contributions paid by the company but established illegally by the government. All companies, from various different sectors, are entitled to tax recovery, whether they are public or private.

There are different ways the government can establish illegal taxes. There is the principle of annuality, according to which a new tax can only take effect a year after its publication, for example. A tax rate can only be increased by law, never by an ordinance.

At this moment, it is extremely necessary to have a company that works with tax recovery to monitor the day-to-day movements. Gescon Business Consulting Ltd considers the financial area and its various legal services, such as tax recovery, to be one of the most complex and central for a company.

Therefore, this type of work needs to be organized and efficiently handled, involving the best professionals in the market, who are collaborators of Gescon Business Consulting Ltd.

This certainty ensures that the clients of Gescon Business Consulting Ltd have at their disposal specialists who provide an excellent solution to make financial management and tax recovery more efficient, agile, and cost-effective for their clients.

UNDERSTAND HOW THE TAX RECOVERY PROCESS WORKS

To ensure tax recovery, it is necessary to comprehensively survey all taxes that were illegally charged by the government and paid by the company. Next, it is necessary to make the monetary correction, and the values must be updated by applying the basic interest rate (SELIC, Special System for Settlement and Custody).

This process occurs through:

• Judicial measure;
• Administrative procedure.

Tax recovery is mainly achieved through the offsetting of the taxes that were paid. This offset can only be done with taxes of the same kind. Thus, income tax can be offset with other federal taxes, and education tax can be offset with social security contributions, and so on.

For this, Gescon Business Consulting Ltd offers the best legal services, focusing on financial management, which can be directed to service providers who take care of all administrative routines, from cash flow to financial reports, thus ensuring specialized tax recovery work.

READ ALSO