Federal justice of Brazil refuses to Foxbit extension of time for payment of tax

Brazilian government denies Foxbit, home of change of cryptocurrencies national, the preliminary request to not be in the register of debtors of taxes from the country within 90 days. The application of Foxbit was made due to the current crisis caused by the coronavirus was impressed with a 40% in its income from operations. The intention of the house was to receive a 90-day extension to pay the taxes on the income. The company is in a financial situation complicated, as they must pay the other three contributions to the State. The decision taken by the Federal Justice of Brazil is based on that is not granted the extension for the payment of income tax to those companies which are not governed by the Simple National. This is about a tax regime, regulated by the Complementary Law of Brazil, unifying the payment of various taxes into a single guide and allows for the payment of taxes more low. Cristiane Farias Rodrigues dos Santos, Judge of the Ninth Civil Tribunal Federal de São Paulo, commented on the situation. “The moratorium is the extension of the term beyond the final deadline stipulated for the payment of a debt, which leads to the suspension of the requirement of a tax credit. However, it happens that, for this, there is a dependency of the law, of a universal character, so that the Judiciary may not function as a legislator positive, benefiting only a part, individually,” he said.

The coronavirus is the primary cause of impact

Before the decision of the government, Foxbit made mention of the ordinance no. 12/2012. This ordinance is about the extension of federal tax payments in cases of recognition of a public calamity. But Cristaine explained that the Service of Federal Taxes and the Office of the Attorney General of the National Treasury should take actions to make this possible. Both agencies must issue the necessary acts and to establish the municipalities covered by the state decree of recognition of a public calamity. How to what is mentioned by the judge has not happened, despite the situation of the coronavirus, Foxbit may not have the requested extension. Before the decision taken by the government, Foxbit stated that it will comply with all its tax obligations. But, it also ensured that they are studying the possibility of an appeal to the decision taken by the regulatory bodies of the country. It should be noted that Breaking News told about the actions taken by the government of Brazil regarding the payment of the tax on the income and the situation generated by the coronavirus. In that sense, the Tax Agency, the brazilian decided to move the deadline to declare the Income Tax, scheduled originally for April 30, until June 30.

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