Company: BBD
Filing Date: 2025-03-31
Form Type: 20-F
Source: 0001292814-25-001244
Chunk: 22

Company: BANK BRADESCO
Filing Date: 2025-03-31
Form: 20-F
Item: Item 10
Chunk 22
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 subject
to taxation in accordance with the same rules applied in the case of divestiture of those shares.

10. E.10.03 Interest on shareholders’
equity (JCP)

Brazilian legislation allows
a Brazilian company, instead of distributing dividends, to perform a distribution of interest on shareholders’ equity to its own
shareholders, treating such values as deductible in calculating the actual profit and in the calculation base of the Social Contribution.
For taxation purposes, the interest on shareholders’ equity is limited to the daily variation pro rata of the Long-term Interest
Rate (TJLP), as the subsequent determinations of the Central Bank of Brazil and may not exceed the higher of the following values:

  50.0% of the net income (after deduction of the Social Contribution, however before considering the provision                               

  212 – Form 20-F 2024 | Bradesco  

  Table of Contents  

  50.0% of accumulated profits and profit reserves established on the date of commencement of the period  

Specifically, in relation
to the payment of JCP for non-resident shareholders, such consignments are subject to IRRF at a rate of 15.0%, or 25.0%, where the recipient
of the income is domiciled in a tax haven.

The values paid as JCP are
subject to deduction in the calculation of the IRPJ and CSLL, which taxes are due on the profit, observing the limits detailed above.

Law No. 14,789/23, published
at the end of 2023, which ended the tax exemption previously granted to companies taxed under the real profit regime for the investment
subsidies they received, also introduced changes related to the JCP.

According to the aforementioned
law, for the purpose of calculating the basis of calculation of the JCP, the positive changes in net worth arising from business transactions
between related parties, which do not involve the effect of the entry of new assets to the legal entity and lead to a permanent increase
in assets, will not be considered, regardless of the provisions of the accounting standards.

In this sense, except in
the cases mentioned above, they will be taken into account for the purposes of calculating the JPC:

  any accounting depreciation entries made in equity items that are not provided for in the list provided                                    

  the negative values recorded in the balance sheet adjustment account resulting from corporate acts between  

Note that, with the publication
of Constitutional Amendment No.