Government of Rio prevents state registration of Refit

The government of Rio de Janeiro suspended Refit's state registration this Friday (29). The Rio de Janeiro Finance Department applied the measure after the Federal Revenue Service suspended the CNPJ of the former Manguinhos Refinery.

According to the government of Rio, taxpayers whose state registration is prevented are prohibited from issuing invoices for the sale or purchase of products; which makes the company's operation unfeasible.

At the beginning of the week, the MPRJ (Public Ministry of the State of Rio de Janeiro) presented a statement to the Court in which it defends the analysis of the conversion of Refit's judicial recovery into bankruptcy.

According to the Public Ministry, the company did not achieve the objective of economic and financial restructuring provided for in the legislation, even after more than ten years under the recovery process.

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"The refinery's tax liabilities increased from around R$5 billion to approximately R$25.7 billion, demonstrating the ineffectiveness of the process", reports the MPRJ.

Owner of the Refit group, which controls the Manguinhos (RJ) refinery and is accused by the Federal Police of leading billion-dollar frauds in the fuel market, Magro has lived in Miami since the last decade.

When contacted, Refit did not respond to requests for response to the report until the publication of this article. The space remains open.

Source: CNN