Corinthians seal tax settlement with federal government as club weighs impact | OneFootball

PGFN said in a statement that Corinthians have concluded a tax settlement covering R$ 679 million, reflecting a 46.6% discount on a R$ 1.2 billion federal liability.

The R$ 1.2 billion comprised R$ 1 billion in non-social security debts, R$ 200 million in social security liabilities, and R$ 15 million linked to the FGTS.

Talks began in 2024, with the key advances made in 2025 before approval. The R$ 679 million will be paid across four fronts, with social security debts over 60 instalments, non-social security over 120, FGTS over 60 with a 30% discount, and social contribution credits paid upfront with 70% off.

To secure the agreement, Corinthians pledged receivables from Timemania. Parque São Jorge, the club’s social headquarters, was also included and valued at R$ 602.2 million.

The club is now assessing the real effect on its debt. It waived Profut and Perse arrangements to renegotiate the entire fiscal balance, restoring original amounts with accrued charges while deducting sums already paid.

This process will partly offset the discount. The 2025 budget set aside R$ 180 million in anticipation of a reduction, and directors are optimistic about the eventual effect on the accounts.

The settlement adds to steps taken in recent months to reorganise finances, including CNRD agreements and the Regime Centralizado de Execuções, ratified last month. Overall debt remains above R$ 2.8 billion, according to the November 2025 balance sheet.

An explanatory note with further details is expected soon.

Source: Meu Timao