Carrefour: provision for tax litigation in Brazil

(CercleFinance.com) - Carrefour says that following a ruling against it by the Supreme Court of Brazil on 9 May, its local subsidiary Atacadão has, by prudence, decided to register a provision for the full potential risk relating to tax disputes.


For many years, Atacadão has been the subject of 240 fiscal contestations on ICMS credits related to transfers of "commodities" between states for a total of 815 million Reis (including interest), i.e. around 183 million euros.

The French retail giant specifies that the Supreme Court's decision is subject to appeal and that Atacadão will continue to defend its interests under all the procedures that are in progress.


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