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06.11.08

» BNDES President signs contract with Rio de Janeiro Government for tax modernization

BNDES President, Luciano Coutinho, and the governor of Rio de Janeiro, Sérgio Cabral, signed on Wednesday, 11, a R$ 15m financing contract to improve tax management in the state. The project includes investments in information technology, equipment purchase, development of systems and staff qualification.

The funds, disbursed under the facility Modernização da Administração das Receitas e da Gestão Fiscal, Financeira e Patrimonial das Administrações Estaduais (Modernization of Revenue, Tax, Financial and Property Management of State Administrations - PMAE), will be used to expand the state’s economic efficiency, by increasing the capacity to check for tax payment and reduce tax management costs.

The facility, developed in March 2007, will deliver BNDES financial support to projects related to tax administration modernization, reducing costs and red tapes and preventing tax evasion by improving planning, control and inspection.

Rio de Janeiro’s government project includes the development and the implementation of the Public System of Digital Tax Receipts (SPED), which deploys the information technology into the relationship between the national treasury and the taxpayer, and the Synchronized Database, which connects the federal, state and local tax entities. This will allow that the setup, change and closing of companies, contributing to reduce the so-called Custo Brasil (Brazil Cost). Total investments expected amount to R$16.7m.

PMAE’ portfolio in BNDES amounts to R$171.5m, covering investment projects of 15 Brazilian states. Out of these, the Bank’s management has approved loans for eight, and seven other are currently under assessment.

 

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