By Richard Mann, Contributing Reporter

RIO DE JANEIRO, BRAZIL – The Federal Treasury Department advised on Monday, May 3rd, that in March, April, and May, 5,241 companies were fined for irregularities in Corporate Income Tax (IRPJ) and Social Contribution on Net Income (CSLL) related to the 2014 calendar year.

Old Cash Register in São Tome das Letras, Minas Gerais, Brazil. (Photo Alamy)

According to the Revenue Service, it logged total tax debts, including interest in arrears and fines, of more than R$1 billion (US$ 250 million).

Concurrently, the Department also reported that 14,300 companies presented inconsistencies of R$1.41 billion in Income Tax and CSLL for the 2015 base year; it has notified these companies to settle their tax debt.

“The demonstration of inconsistencies, as well as guidelines for settlement, will be included in a letter sent to the address listed in the National Register of Legal Entities (CNPJ) and to the taxpayers’ online mailbox. The mailbox may be accessed on the RFB’s website, on the e-CAC portal,” added the tax authorities.

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