São Paulo tax authorities undertake operation against evasion in the purchase and sale of ethanol

By ETCO

Source: Financial Executives - São Paulo / SP - 18/08/2010

The Finance Secretariat of the State of São Paulo announced yesterday (17) an operation aimed at combating tax fraud in alcohol purchase and sale transactions between companies in São Paulo and Rio Grande do Sul.

The so-called Operation Anhanguera involved 120 public agents - police, prosecutors, prosecutors and inspectors - and aimed to dismantle a gang specialized in tax evasion schemes in the purchase and sale of alcohol in both states.

The main artifice employed by fraudsters was the use of intermediary companies, formed by interposed partners or "oranges", with the purpose of hiding the identity of the true hydrated alcohol supplier. Thus, the investigated sought to simulate deferred ICMS tax exemption operations, in addition to transferring unlawful tax credits to client companies.

According to the Treasury, the operation resulted in the arrest of 10 people in the state of São Paulo and will allow the return of R $ 220 million in ICMS withheld and fines to public coffers.

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São Paulo tax authorities undertake operation against evasion in the purchase and sale of ethanol

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