C&A Modas S A : Material Fact - Tax credits resulting from excluding ICMS from the basis for calculating PIS and Cofins
July 20, 2021 at 07:14 pm EDT
Share
C&A MODAS S.A.
CNPJ/ME 45.242.914/0001-05
NIRE 353000542762
Traded Company
MATERIAL FACT
TAX CREDITS RESULTING FROM EXCLUDING ICMS
FROM THE BASIS FOR CALCULATING PIS AND COFINS
In compliance with Law 6,404/1976 Article 157, paragraph 4, and CVM Instruction 358/2002, C&A Modas S.A. [B3: CEAB3] (the "Company"), continuing the matters disclosed in note 11 of its financial statements for 1Q21, and item 4.3 of the 2021 Reference Form, hereby informs its shareholders and the market in general that, following a decision by the Federal Supreme Court that defined the validity of the period and the method of calculation, the amount of ICMS to be excluded from the basis for calculating PIS and COFINS is the amount highlighted in the invoice, the credits for the period between 2015 and 2017 shall be recognized before the final unappealable ruling is issued.
The final amount is in the process of being calculated together with our independent auditors. Best estimates to date are that the corrected credits will amount to about R$ 230 million. These amounts shall be recognized in the financial statements for 2Q21.
The Company shall keep its shareholders and the market in general informed of any new facts related to this topic.
Barueri, July 20, 2021.
Milton Lucato Filho
Director Vice President of Administration, Finance and Investor Relations
Attachments
Original document
Permalink
Disclaimer
C&A Modas SA published this content on 20 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 July 2021 23:13:55 UTC.
C&A Modas SA, formerly know as C&A Modas Ltda, is a Brazil-based fashion company, which manages a retail chain of shops and a Web portal. The Company sells a variety of products, such as apparel, accessories and footwear for men, women and children; cosmetics for both man and woman; electronic devices, including smartphones, notebooks, tablets and related accessories, among others. Its offering includes also products from different brands that customer can buy also through a mobile application.