Gradiente, which is undergoing judicial recovery, reached an agreement with the National Treasury Attorney General's Office (PGFN) to settle a debt of approximately R$600 million in overdue taxes. The negotiation was carried out through the so-called \u201ctax transaction\u201d, a possibility opened in 2020 for debtors registered in active debt.<\/p>\n\n\n\n
After sitting down with prosecutors, the company, with a \u201cD\u201d rating from the Treasury, the lowest rating, managed to negotiate a discount of 67% and the possibility of paying off what it owes in 120 months.<\/p>\n\n\n\n
The company adopted the standard transaction model, but it was not sufficient to cover all its liabilities. That was when it began implementing customized individual transactions. In this modality, the PGFN has greater room to adapt the credit recovery plan, according to Alfredo Frota, attorney for the National Treasury in the State of Amazonas.<\/p>\n\n\n\n
The transaction was established in February 2020, through Law No. 13,988. Since then, the tax authorities have been allowed to sit down at the table and negotiate with debtors, regardless of the amount of the debt. Until May, a total of R$1,500 billion had been regularized in 1.3 million agreements signed via transaction. In 2021, R$1,500 billion was recovered from the public coffers.<\/p>\n\n\n\n
The attorney who worked on the negotiations highlights that one of the points that encouraged the agreement was seeing that the company wanted to regularize itself in order to resume operations. \u201cThe projected results for the near future are encouraging,\u201d says Frota.<\/p>\n\n\n\n
The company, headquartered in the Manaus Free Trade Zone, has a history that stretches back almost a century. At its peak, it employed nine thousand people, according to the prosecutor. \u201cThe negotiation was hard work, but it is gratifying to try to return a company of this size to the market,\u201d he says.<\/p>\n\n\n\n
On Gradiente's side is tax specialist Marcel Sc\u00f3tolo. He worked on reviewing Gradiente's federal tax liabilities together with tax lawyer Bruno Martins and Asti Consultoria. The goal was to find solutions for the liabilities.<\/p>\n\n\n\n
Initially, the idea was to close two standard transactions. However, as they would be subject to the limit of R$150 million, the solution found was to combine all of the company's federal tax liabilities and present a single installment solution.<\/p>\n\n\n\n
Total liabilities amounted to R$750 million. The debts are very old, made about 20 years ago, according to Sc\u00f3tolo. Of the total, however, R$150 million were not negotiated.<\/p>\n\n\n\n
According to the lawyer, for R$ 100 million the company has a favorable court decision recognizing the prescription and, for R$ 50 million, there was an indication of nullity of the executive title.<\/p>\n\n\n\n
The amount to be paid was reduced by approximately R$15T 400 million. \u201cThis is very important for a company that is undergoing judicial recovery,\u201d says Sc\u00f3tolo. \u201cIt can organize itself better and plan its future because the federal tax liability has become manageable,\u201d he adds.<\/p>\n\n\n\n
One condition for the transaction is to regularize the FGTS debts, which in this case were R$15T 21 million. The amount will be paid in full in 120 installments.<\/p>\n\n\n\n
The principal debt will also be paid in 120 installments, with 8% of the total down payment to be paid in 24 installments and the remainder in 96 installments. After the initial 24 months, 36 installments of debts related to social security contributions will be paid.<\/p>\n\n\n\n
\u201cToday, the transaction is an essential tool,\u201d says the lawyer. \u201cIt is still a new institution, despite having been provided for in the National Tax Code for a long time.\u201d<\/p>\n\n\n\n
For Eucl\u00eddes Sigoli, regional prosecutor for the Treasury in the 1st Region, \u201cwhat stands out in the negotiation is the respect for the social function of the company as a hub for generating wealth and jobs.\u201d He also emphasizes the importance of recovering amounts to Social Security in full, even in installments.<\/p>\n\n\n\n