On 06/09/2015 State Law No. 10.376/2015 was published in the Official Gazette and approved by the Governor of the State of Espírito Santo, establishing the Tax Amnesty Program to waive or reduce penalties and interest related to overdue state taxes.

The tax amnesty program applies to all tax debts in which the tax triggering event occurred up to December 31, 2014, irrespective of whether the taxes were officially assessed or enrolled as enforceable debts, including also taxes subject to ongoing lawsuits or installment payment programs.

Payment of fines and interest resulting from default in tax liabilities can be made at a discount ranging from 40% to 100%, depending on several factors, such as the number of installments and the program application date.

The application period for the aforementioned tax program will be from June 15, 2015 to September 30, 2015.