MJ Alves Burle e Viana advises Gol on deal with PGFN and RBF
MJ Alves Burle e Viana Advogados advised Gol Linhas Aéreas in negotiations with the office of the Attorney General of the National Treasury (PGFN) and the special secretariat of the Federal Revenue Service of Brazil (RFB) concerning tax liabilities, social security contributions, and non-social security contributions, totaling approximately R$5.5 billion.
This agreement, the first tax transaction of its kind in Brazil and also subject to U.S. law, enables the restructuring of the airline’s debts and those of its subsidiaries, reducing the outstanding balance to approximately R$1.6 billion.
The groundbreaking agreement provides for the installment payment of the debt, discounts on fines, interest, and charges, as well as the possibility of offsetting part of the debt with tax losses and a negative tax base for the Social Contribution on Net Income (CSLL).
MJ Alves Burle e Viana Advogados represented Gol and relied on partners Marcos Joaquim Gonçalves Alves (pitured left), Alan Viana (pictured top right) and Oswaldo Othon de Pontes Saraiva Neto (pictured bottom right).
