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The cases regarding double taxation of state tax VAT on sales revenes by federal taxation authority since 2003 to now have been concluded in favor of Brazilian companies. As a result of these cases in which Kordsa Brasil is a part of it, Kordsa Brasil is expected to receive a rebate amounting to 10,257,053 USD paid for taxes within 18 months. |
We proclaim that our above disclosure is in conformity with the principles set down in “Material Events Communiqué” of Capital Markets Board, and it fully reflects all information coming to our knowledge on the subject matter thereof, and it is in conformity with our books, records and documents, and all reasonable efforts have been shown by our Company in order to obtain all information fully and accurately about the subject matter thereof, and we’re personally liable for the disclosures.