trending Market Intelligence /marketintelligence/en/news-insights/trending/bvG9cYEY9PvavlJSih7PEA2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Brazil tax board questions B3's goodwill amortization for 2014-2016

Street Talk - Ep. 64: Coronavirus jumpstarts digital adoption

Street Talk Podcast

Street Talk - Ep. 63: Deal talks continue amid bank M&A freeze, setting up for strong Q4

Street Talk Podcast

Street Talk - Ep. 62: 'Brutal' outlook for oil demand offers banks in oil patch no relief

Amid Q1 APAC Fintech Funding Slump, Payment Companies Drove Investments


Brazil tax board questions B3's goodwill amortization for 2014-2016

B3 SA - Brasil Bolsa Balcão said Brazil's tax authority questioned again its amortization of the goodwill relating to the acquisition of Bovespa Holding SA in 2008, this time for tax years 2014, 2015 and 2016.

The taxes in question amount to about 3.09 billion reais related to the IRPJ corporate income tax and about 1.12 billion reais tied to the CSLL social contribution, with both cases including fines and interest, according to an Oct. 18 filing.

The notice is based on an alleged undue reduction of the basis for the income tax and social contribution calculations, which reflect the value assigned to the goodwill, B3 said.

The lower chamber of Brazil's tax appeal board CARF earlier issued a judgment favorable to B3 relating to the tax assessment of the goodwill for tax years 2012 and 2013. However, the upper chamber of the same tax board maintained the goodwill tax assessment for 2010 and 2011.

The stock exchange said it will challenge the latest assessment and maintained that the creation of the goodwill conformed with tax laws. It will also continue to amortize, for tax purposes, goodwill created in other transactions.

As of Oct. 18, US$1 was equivalent to 4.13 Brazilian reais.