A Brazilian court has rejected an appeal from Brazilian steelmaker Companhia Siderurgica Nacional (CSN) at the same maintaining a BRL 93 million fiscal debt. CSN tried to appeal an existing decision, in which the steelmaker was ordered to pay the multi-million-dollar ICMS debt.
“After analyzing the elements of the lawsuit … I noticed (CSN) had no reason (in its appeal),” a judge said, adding the fine should be maintained.
CSN transferred steel-related products between two states, Minas Gerais and Rio de Janeiro, and as such, it was supposed to pay incurring ICMS taxes in both states for those operations. CSN argued it shouldn’t pay the ICMS tax twice, but the court rejected the steelmaker’s claims.