Dufry: favourable ruling in Brazilian tax case
(CercleFinance.com) - The Swiss operator of duty free boutiques Dufry announces that the federal court of Rio de Janeiro has made a final and unconditional decision, in a dispute between its Brazilian subsidiaries and Brazil's tax authorities.
As a result, Dufry may thus claim tax refunds paid in previous years. The amount of claims, the timing of the recovery and the financial impact of this decision are currently being evaluated.
At this stage, Dufry estimates that the net amount could be approximately 40 million or 50 million Swiss francs, resulting in a positive non-recurrent effect. However, it warns that recovery procedures could take a few years.
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