São Paulo State Government Releases BRL 1.5 Billion in ICMS Tax Credits for Exporters

The Government of the State of São Paulo has announced the launch of the 12th round of the ProAtivo Program, authorizing the release of BRL 1.5 billion in accumulated ICMS tax credits. This is the largest release ever carried out under the program, aimed at boosting export activity—particularly in light of the recent increase in tariffs imposed by the United States on Brazilian products.

Key Highlights

• Amount released: BRL 1.5 billion in accumulated ICMS tax credits.
• Purpose: To mitigate the economic impact of the U.S. tariff increase and enhance the competitiveness of São Paulo-based exporters.
• Instrument: 12th round of the ProAtivo Program, regulated by Resolution SFP No. 67/2021.

Eligibility and Limits

• Priority: Export taxpayers with accumulated ICMS credits eligible for transfer.
• Per-company limits:
  • BRL 120 million for companies that exported more than BRL 20 million to the U.S. in the last four years;
  • BRL 30 million for other exporters.

Procedures

• Publication of rules: Resolution and Ordinance to be published in the State Official Gazette on August 1, 2025.
• Application start date: From August 12, 2025, exclusively via SIPET, using the “Request for Transfer of Accumulated Credit – 12th Round of ProAtivo” form.
• Credit disbursement: Payments will be made in up to 10 installments, beginning in September 2025.

Complementary Credit Line: Giro Exportador

• Total amount: BRL 400 million (up from the previous BRL 200 million).
• Conditions:
  • Interest rate: from 0.27% per month + IPCA;
  • Term: up to 60 months;
  • Grace period: up to 12 months.
• Purpose: Working capital financing for exporters affected by trade restrictions.

Recommendations for Taxpayers

Exporting companies holding accumulated ICMS credits should:

1. Verify the regularity and eligibility of credits for transfer;
2. Monitor the publication of implementing regulations;
3. Prepare all required documents and statements for filing as of August 12;
4. Assess the impact of the credit release on cash flow and tax planning.

Our firm is available to assist with eligibility assessment, document preparation, and process follow-up before the São Paulo State Treasury Department.