Company: BBD
Filing Date: 2025-03-31
Form Type: 20-F
Source: 0001292814-25-001244
Chunk: 28

Company: BANK BRADESCO
Filing Date: 2025-03-31
Form: 20-F
Item: Item 10
Chunk 28
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 as qualified
dividends if: (i) the ADSs are readily tradable on an established securities market in the United States; and (ii) we were not, in the
year prior to the year in which the dividend was paid, and are not, in the year in which the dividend is paid, a passive foreign investment
company (PFIC). The ADSs are listed on the New York Stock Exchange, and will qualify as readily tradable on an established securities
market in the United States so long as they are listed. Based on existing guidance, it is not clear whether dividends received with respect
to the shares will be treated as qualified dividends, because the shares themselves are not listed on a U. S. exchange. In addition, the
U. S. Treasury has announced its intention to promulgate rules pursuant to which holders of the shares or ADSs, and intermediaries through
whom such securities are held will be permitted to rely on certifications from issuers to treat dividends as qualified for tax reporting
purposes. Because such procedures have not yet been issued, it is not clear whether we will be able to comply with them. Holders of ADSs
and the shares should consult their own tax advisers regarding the availability of the reduced dividend tax rate in light of the considerations
discussed above and their own particular circumstances.

In general, a non-U. S. corporation
will be classified as a PFIC for any taxable year if at least (i) 75% of its gross income is classified as “passive income”
or (ii) 50% of the average value (generally measured quarterly) of its assets produce or are held for the production of passive income.
For this purpose, passive income generally includes, among other items, dividends, interest, gains from certain commodities transactions,
certain rents, royalties and gains from the disposition of passive assets. For purposes of the above calculations, a non-U. S. corporation
that directly or indirectly owns at least 25% by value of the stock of another corporation is treated as if it held its proportionate
share of the assets of such other corporation and received directly its proportionate share of the income of such other corporation. We
do not believe that we were a PFIC for our most recent taxable year and do not expect to be a PFIC for the current taxable year or in
the foreseeable future, although there can be no assurance in this regard because our status as a PFIC depends, in part,