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    B3 receives a new fine of R$204 million from the Internal Revenue Service for goodwill involving merger

    According to the statement, the value includes 155.17 million reais as a fine on Income Tax and another 49.17 million for a fine on CSLL (Image: B3/Linkedin)

    A B3 reported on Wednesday that it received a new infraction notice of 204.3 million reais from the IRS involving fiscal gains, in 2017, with the goodwill generated from the merger between BM&F and Bovespa, which gave rise to the company.

    According to the statement, the amount includes 155.17 million reais as a fine on Income Tax and another 49.17 million reais as a fine on CSLL.

    The tax assessment involved only the aforementioned fines, as B3 had a 2017 tax loss, which was then used between 2019 and 2021, the company explained.

    Thus, unlike what happened in other years for which there were assessments, the value of the portion of the questioned goodwill relating to 2017 (about 1.6 billion reais) was fully deducted from this tax loss balance.

    The Federal Revenue Service has already applied several fines to B3, alleging that the company improperly reduced the tax calculation bases in view of the value attributed to the goodwill.

    “B3 will challenge the aforementioned tax assessment notice and reaffirms its understanding that the goodwill was constituted regularly, in strict compliance with the tax legislation”, stated the operator of infrastructure market.

    See the document below:

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