Company: BBD
Filing Date: 2025-05-30
Form Type: 6-K
Source: 0001292814-25-002283
Chunk: 84

Company: BANK BRADESCO
Filing Date: 2025-05-30
Form: 6-K
Chunk 84
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 subject
to the deductibility limits imposed by thin-capitalization and transfer pricing rules.

Tax
deductions for any payment to a beneficiary resident or domiciled in a country with tax haven are also subject to the following: (i) identification
of the actual beneficiary of the person domiciled abroad; (ii) proof of the ability of the person located abroad to complete the transaction;
and (iii) documented proof of payment of the respective price and of receipt of the assets, rights, or utilization of service.

The
variation in the monetary value of companies’ credit rights and obligations in Brazil due to varying exchange rates can be calculated
on a cash or accrual basis. The election of the tax regime must be exercised in January of each calendar year and may only be altered
during the fiscal year if there is “material variation in the exchange rate”, as published by a Finance Ministry Directive.

On October
3, 2024, the Brazilian Government published Provisional Measure No. 1,262/64, which incorporates the model rules established by the OECD
to promote the global reform of corporate income tax (“Globe Rules”). This measure introduces an additional tax rate of 15%
of CSLL for companies that are part of multinational groups with annual revenue of more than 750 million euros, subject to an effective
minimum tax rate on profits earned in Brazil.

On the
same day, the Brazilian Federal Revenue Service issued Normative Instruction No. 2,228/24, which regulates Provisional Measure No. 1,262/24.
This proposal is aligned with the OECD’s Qualified Domestic Minimum Top-up Tax (“QDMTT”), which prioritizes the jurisdiction
where profits were generated by imposing a minimum income tax. If the minimum tax is not collected in Brazil, other jurisdictions may
claim it on the profits generated in the country. Provisional Measure No. 1,262/24 follows the OECD model to ensure that the additional
CSLL paid in Brazil can be offset with the supplementary tax that may be required by other jurisdictions. All entities whose results are
consolidated in the financial statements of multinational groups — that is, groups operating in more than one jurisdiction and having
annual revenue of more than 750 million euros in two of the last four consecutive fiscal years (“Constituent Entities”) –
will be subject to the additional CSLL. This additional tax applies only to “surplus” profits, defined as profits calculated
according to the Brazilian accounting standards (with certain adjustments), deducting so-called