12/10/2024 – 7:32
Assaí reported this Friday night, the 11th, through a relevant fact, that the Federal Revenue accepted the administrative appeal presented by the company and canceled the term of September 27th that determined the listing of assets worth R$ 1.265 billion due to tax contingencies under discussion by the Brazilian Distribution Company (GPA).
“Assaí remains in constant communication with GPA and closely monitors the matter”, informed the retailer in the document released this Friday evening, the 11th.
Also according to Assaí, GPA “acknowledged that it is responsible” for its own contingencies and “must compensate” and “keep Assaí harmless” for any loss resulting from this.
When the listing took place, Assaí explained, in a material fact on September 29, that, as a result of a split that occurred on December 31, 2020, it became an independent entity. “According to the agreements signed, there is no solidarity in relation to liabilities prior to the split”, he explained at the time.
What is a listing of assets
When disclosing the incident to the market, management sought to make it clear that the term did not refer to a blocking of assets, nor to an amount that needed to be provisioned in its balance sheet. However, if for national investors the text demands attention, for foreigners the confusion seemed greater, and the company went out of its way to clarify.
The listing of assets is a measure used by the Federal Revenue of Brazil to monitor the assets of a company that has tax debts under discussion – in the case of Assaí, according to the relevant fact of this Friday, 11th, the Federal Revenue canceled the measure when accept the administrative appeal presented by the company.
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