Company: BBD
Filing Date: 2025-05-30
Form Type: 6-K
Source: 0001292814-25-002283
Chunk: 149

Company: BANK BRADESCO
Filing Date: 2025-05-30
Form: 6-K
Chunk 149
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 constantly changing fiscal trends, with increased public spending and public debt increasing as a proportion of GDP, interest rates
may rise at a pace higher than expected, hampering loan expansion and increasing volatility. Moreover, the risk of changes in taxes and
fiscal assessments may materialize as the government may target taxation towards certain sectors, such as the financial markets, with
negative impacts on the results and investments of businesses operating in the segment.

In February
2023, the Brazilian Supreme Court (STF) issued a decision recognizing that final judgments regarding a specific taxpayer cannot prevail
over subsequent decisions issued by the STF that apply to all taxpayers. The aforementioned decision does not have any impact on us.

On December
20, 2023, Constitutional Amendment No. 132/23 was published, which brought the Tax Reform directive in Brazil. The Constitutional Amendment
reorganizes the taxation on consumption in Brazil, having as main milestone the replacement of five current taxes (PIS, COFINS, ICMS,
ISS and IPI) by a Value Added Tax (VAT), divided into two VAT-Dual): (i) the Contribution on Goods and Services (CBS), which will be allocated
to the Government, and (ii) the Goods and Services Tax (IBS), which will be distributed to the States, Municipalities and Federal District.
It is foreseen in the Constitutional Amendment that in relation to the Revenue of Financial Intermediation, the calculation bases and
rates should be defined in order to maintain the current tax burden applied to loan operations (Spread - PIS and COFINS) by the end of
the fifth year of enforcement of the regime (without increase or decrease in the sector’s collection).

We cannot
estimate the impacts that the implementation of the Tax Reform will have on our operations. In this sense, although taxation on consumption
has undergone significant changes, which may result in a possible increase in the tax burden, there is no way of predicting the impacts
on the gross margin of the company.

We cannot
guarantee that the Brazilian government will implement a new tax reform, a change in applicable laws and regulations, or maintain or renew
any incentives in a way that is favorable to us. In the event of these changes, directly or indirectly, increasing the tax burden due
by the group, our gross margin may decrease resulting in a negative impact on business and operating income.

We highlight
that the taxation of dividend distribution and the extinction of interest deductibility on equity are the subject of discussion and