Company: BBD
Filing Date: 2025-03-31
Form Type: 20-F
Source: 0001292814-25-001244
Chunk: 24

Company: BANK BRADESCO
Filing Date: 2025-03-31
Form: 20-F
Item: Item 10
Chunk 24
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 Law No. 11,727/08, NI No. 1,037/10 and Ordinance
No. 488/14, if the tax authorities determine the application of the concept of the privileged tax regime.

10. E.10.05 Tax on Foreign Exchange
Transactions

In accordance with Decree
No. 6,306/07, the conversion of foreign currency into Brazilian currency, or vice-versa, shall be subject to tax on foreign exchange operations
(IOF/Exchange). The rate of the current tax on foreign exchange operations, applicable to most of the foreign exchange operations, is
0.38%. However, foreign exchange operations carried out for inflows of resources in Brazil by a non-resident investor 4,373, are subject
to tax on foreign exchange operations at a rate of 0%: (i) in the case of variable income operations carried out on the Brazilian stock
exchange, as well as acquisitions of shares of publicly held Brazilian companies or subscription of shares related to capital contributions,
provided that the issuing company has registered its shares to be traded on the stock exchange; and (ii) for the transfer of resources
from Brazil, related to this type of investment, including payments of dividends and JCP and the repatriation of resources invested in
the Brazilian market. Additionally, the tax on foreign exchange operations is currently charged at a rate of 0% on the cancellation of
ADRs in the exchange for shares.

In any case, the tax rate
on foreign exchange operations can be increased at any time by an act of the Federal Executive Branch, up to the percentage of 25.0%,
in relation to the transactions that occurred after this possible amendment.

Decree No. 11,153/22 brought
a gradual reduction in the IOF rate on exchange operations in the Settlement of foreign exchange transactions for the purchase of foreign
currency in traveler’s checks and the loading of international prepaid cards, designated for covering personal expenses in international
travel. Starting on January 2, 2023, the reduction will extend until January 2, 2028, when it will reach 0%. In 2024, the updated rate
will be 4.38% as of January 2, 2024.

10. E.10.06 Tax on the transaction
with securities

In accordance with Decree
No. 6,306/07, the tax on the transaction with securities (IOF/Securities) may be charged