During a session on February 23, 2016, three out of five ministers from the 1st Panel of STJ voted in favor of the use of a different ICMS calculation basis on the sale of medicines to hospitals. The discussion arose after a tax assessment from the State of Bahia claimed that the ICMS had been underpaid since the taxpayer had used lower prices than those suggested by magazines such as "ABCFarma" and "Pharmacy Guide" and the Ministry of Finance's Ordinance No. 37/92 which regulates the value of medicines sold to pharmacies.

The judgment was interrupted by a request for examination by minister Sérgio Kukina.

Visit us at Tauil & Chequer

Founded in 2001, Tauil & Chequer Advogados is a full service law firm with approximately 90 lawyers and offices in Rio de Janeiro, São Paulo and Vitória. T&C represents local and international businesses on their domestic and cross-border activities and offers clients the full range of legal services including: corporate and M&A; debt and equity capital markets; banking and finance; employment and benefits; environmental; intellectual property; litigation and dispute resolution; restructuring, bankruptcy and insolvency; tax; and real estate. The firm has a particularly strong and longstanding presence in the energy, oil and gas and infrastructure industries as well as with pension and investment funds. In December 2009, T&C entered into an agreement to operate in association with Mayer Brown LLP and become "Tauil & Chequer Advogados in association with Mayer Brown LLP."

© Copyright 2016. Tauil & Chequer Advogados, a Brazilian law partnership with which Mayer Brown is associated. All rights reserved.

This article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein.