B3 S A Brasil Bolsa Balcão : Notice to the Market - DRJ Trial - Assessment notice on with...
January 02, 2023 at 04:28 pm EST
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B3 S.A. - Brasil, Bolsa, Balcão
CNPJ nº 09.346.601/0001-25
NIRE 35.300.351.452
NOTICE TO THE MARKET
DRJ Trial - Assessment notice on withholding tax on the alleged capital gain of foreign investors in receiving B3 shares upon the merger of CETIP S.A. - Mercados Organizados shares
B3 S.A. - Brasil, Bolsa, Balcão ("Company" or "B3") refers to the Notice to the Market dated December 15th 2021, regarding the assessment notice sent by the Brazilian Federal Tax Authority - RFB demanding the payment of the withholding tax - IRRF supposedly due by B3, as tax responsible, on the capital gain that would have been calculated by foreign shareholders of CETIP, which received B3 shares as a result of the merger of its shares, which took place in March 2017 within the scope of the business combination between CETIP and BM&FBOVESPA (currently B3), to inform that was communicated today of the decision issued by the Federal Revenue Judgment Office of Rio de Janeiro - DRJ regarding the objection filled by B3.
The aforementioned decision partially maintained the mentioned assessment notice, maintaining the merits of the discussion in its main aspects, but with the partial exoneration of the assessment's value due to the rectification of the calculation criteria used by the inspection.
The judgment of DRJ decided on the partial exoneration of R$ 237,462,173.74of a total under discussionof R$ 553,213,093.67. Consequently, the current value of the notice is R$ 315,750,919.93 with fines and interest.
It is important to note that this partial exoneration is not final, as it will be submitted to the Administrative Council for Tax Appeals (CARF), at which time this removed portion will be reanalyzed by this collegiate body and may be reestablished.
B3 reiterates its understanding, in line with the opinion of its external tax advisors, that there is no taxable capital gain in share merger transactions and informs that will present a voluntary appeal to the CARF regarding the portion of the assessment notice maintained by the DRJ decision within the legal period.
B3 SA Brasil Bolsa Balcao published this content on 02 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 January 2023 21:27:02 UTC.
B3 SA Brasil Bolsa Balcao, formerly BM&F Bovespa SA Bolsa de Valores Mercadorias e Futuros, is a Brazil-based financial market infrastructure provider. The Company's service offerings range from exchange trading, clearing and other post-trading services to registration of over-the-counter (OTC) transactions. The Company also provides a listing service and acts as central securities depository (CSD). It develops software solutions and offers index licensing services. Its business is divided into four segments: Bovespa, which covers trading, clearing and settlement of equities and equity derivatives; BM&F, which covers trading, clearing and settlement of financial and commodities derivatives; Cetip Securities (Cetip UTVM), covering registration, clearing, settlement and custody systems for fixed-income securities and OTC derivatives, and Cetip Financing (Cetip UFIN), which provides an integrated private electronic system for registration of vehicle and real estate loans.
B3 S.A. - BRASIL, BOLSA, BALCÃO 
