São Paulo government reports billions in ICMS transfers and top municipal tax debtors

The São Paulo municipal government released an updated list of its 50 largest tax debtors, showing that five economic groups owe about R$32 billion, or 58.5% of the total R$56.4 billion owed. Grupo Itaú leads with R$20.05 billion, followed by Facebook Serviços Online do Brasil Ltda. (R$3.95 billion), Unimed Paulistana (R$3.64 billion), Banco do Brasil (R$2.90 billion) and Notre Dame Intermédica (R$2.45 billion). The Jockey Club of São Paulo also appears with a debt above R$882 million, while Nestlé entered the list with R$469.2 million.

The State Finance Secretariat’s anti‑fraud system has recovered about R$10 billion from companies, identifying fraudulent ICMS credit schemes. It has secured R$5.8 billion in credits owed to the state and led to the dismissal of five auditors, the resignation of one public servant and the suspension of pay for 17 others pending investigation.

In the first half of 2026, São Paulo’s state treasury transferred a total of R$23.97 billion in ICMS to municipalities, including R$4.19 billion in June alone. The Grande ABC region received R$1.58 billion, a 14.4% increase year‑on‑year, with São Bernardo getting R$612.5 million (+20%). These transfers represent 25% of the ICMS revenue and are allocated according to the municipal participation index.