Mundial announced on Friday evening that it had reached an agreement with the Attorney General of the National Treasury that reduces the total amount of tax debts from about 1.8 billion to 281 million reais, according to the material facts.
The agreement also allows payment of the remaining amount in up to 120 monthly installments plus the Selic variation.
“The company advises that…in a purely preliminary analysis according to internal controls, it estimates a positive effect of approximately 983 million on its results,” said Mundial.
According to Mundial, a centuries-old manufacturer of items such as scissors, knives and cosmetics, the reduction of the amount due took place with the granting of discounts and also “the use of credits for tax losses, the use of the negative base of the social contribution, as well as the withdrawal, due by the company, of the administrative and judicial negotiations involved”.
Source: Terra
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