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Daily Tax Report: International

Carrefour Says Brazil Unit Atacadao Records Tax-Case Provision

May 13, 2019, 11:52 AM

Carrefour’s Brazil subsidiary Atacadao has recorded a provision for potential risk of tax disputes in several Brazilian states of about EU183m following an unfavorable decision by the Supreme Court on May 9.

The Supreme Court decision “is subject to appeal and Atacadao will continue to defend its interests in the context of all ongoing proceedings,” Carrefour said in a May 13 statement.

Atacado “has been the subject of 240 tax disputes in several Brazilian states relating to ICMS 1 credits on inter-state transfers of “basic products” for a total amount of 815 million Brazilian Reais (including interest), or approximately...

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