Company: BBD
Filing Date: 2025-05-30
Form Type: 6-K
Source: 0001292814-25-002283
Chunk: 86

Company: BANK BRADESCO
Filing Date: 2025-05-30
Form: 6-K
Chunk 86
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, this Decree was revoked on
January 1, 2023 by Decree No. 11,374/23, if the original wording provided for in Decree No. 8,426/15 is reestablished.

On the
other hand, according to the amendments made by Decree No. 8,451/15 to Decree No. 8,426/15, the contributions to PIS and Cofins are subject
to a zero tax rate, specifically in relation to financial revenues arising from: (i) monetary variation, depending on the exchange rate,
of export operations of goods and services, as well as obligations incurred by the legal entity, including loans and financing; and (ii)
hedge operations carried out on the stock exchange, of commodities and of futures, or in the organized OTC market. Certain economic activities
are expressly excluded from the procedures of the non-accrual collection of the PIS and Cofins. This is the case of financial institutions,
which shall remain subject to PIS and Cofins by the “accrued” procedures, which does not permit the discount of any credits,
as provided by Article 10, paragraph I, of Law No. 10,833/03. Despite this impossibility of accrual of credits, the legislation in force
enables the exclusion of certain expenditure in the calculation by such entities of the bases of calculation of the PIS and Cofins (as
is the case, for example, of the expenses incurred by the banks in financial mediation operations and expenditure on severance payments
corresponding to accidents occurring in the case of private insurance companies). In such cases, the income received by the financial
institutions is subject to Contribution to the PIS and Cofins at the rates of 0.65% and 4.0%, respectively.

In July
2010, the Brazilian tax authorities introduced digital tax records (Escrituração Fiscal Digital – EFD) for PIS and
Cofins taxes, which must be adopted, including by financial institutions.

In 2023,
the National Congress approved PEC No. 45/19 responsible for the Tax Reform in Brazil, resulting in Constitutional Amendment No. 132/23.
This 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 (