The 25-year-old's former side are entitled to 2.5 per cent of his £145m transfer fee due to a release clause in his contract.
According to Sport, the Brazilian lower league side should receive their first payment this week.
They will receive the money in three instalments, with the first estimated to be around £871,000.
It is understood that Liverpool have deposited the amount with the English Football Federation.
And the next step is for FIFA to push the transaction through to Vasco.
And the financial windfall could not have come at a better time for the Brazilian side, who have reportedly been struggling to pay their players and debts.
Coutinho kicked off his career in Vasco's youth system, before he was snapped up by Italian giants Inter Milan at the age of 16.
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But he remained on loan with the Campeonato Carioca side for two more years until he had established himself as a key first-team player.
He then moved to Anfield for £8.5m in 2013, before he completed his dream move to Barcelona.
And the PSG star has already attracted outsider interest, with PSG hoping to bring him to France to accompany Neymar.
But Coutinho might not be playing alongside the Ligue 1 striker at this summer's World Cup.
The 25-year-old is surprisingly planning to change his nationality just months the action in Russia starts.
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