Iochpe-Maxion Informs on Brazil ICMS Case, Tax Notice in Mexico

Company became aware of the final and unappealable decision in its favor in a lawsuit by which it requested the exclusion of ICMS tax value from PIS and Cofins taxes calculation basis, according to filing.

• Estimate of total corrected credits to which the company would be entitled, before tax effects, is 240m reais
  • Amout is likely to be recognized in 2Q results
• In Mexico, company seeks an out-of-court settlement with tax authorities to end a lawsuit related to subsidiary Grupo Galaz
  • Action involves alleged non-deductibility for tax purposes of interest expenses on financing obtained for the acquisition of Grupo ...