Rumo Opens an Inquiry as São Paulo’s Tax Case Widens
Rumo opened an internal investigation after being named in São Paulo's tax-fraud inquiry, which has spread from retailers into rail, gas and fuel. The post Rumo Opens an Inquiry as São Paulo’s Tax Case Widens appeared first on The Rio Times .
Rumo, a major Brazilian rail operator, has initiated an internal investigation following its inclusion in a widening São Paulo tax inquiry. The probe, initially focused on retail, has now expanded to encompass logistics and energy sectors. Rumo stated that it was not notified by prosecutors and had not accessed the case file. Consequently, the company has appointed independent external advisers to lead the investigation, which they plan to expand as necessary.
Rumo has pledged cooperation with the state prosecutor's office in São Paulo. The inquiry now extends beyond retail, implicating energy and logistics companies. Prosecutors alleged that a corruption scheme involved the misappropriation of 1% to 10% of refunded ICMS credits, with payments made to public officials. Notable companies named in the probe include Farma Conde, Ipiranga, Sony Mobile, Casas Bahia, Assaí, and Dia.
Assaí, a supermarket chain, reportedly paid R$53 million (US$10.4 million) to a lawyer to expedite credit releases. However, Assaí denied any wrongdoing. So far, no companies have been formally charged with a crime. Rumo emphasized its commitment to cooperating with authorities and expanding its internal probe once it gains access to the case file.
The investigation, currently a civil and administrative inquiry, is separate from any criminal charges and concerns alleged bribery in the release of ICMS credits. If confirmed, the case could prompt reforms in Brazil's ICMS credit refund system.
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