In an article produced by reporter Marcela Villar and replicated by Grupo Globo’s Pequenas Empresas & Grandes Negócios portal, Dr. Marcos Martins and Dr. Angelo Ambrizzi spoke about the tax debt of retailer Americanas SA, which involves debts with the Federal Government and the States of São Paulo and Rio de Janeiro.
The debt totals around R$1.8 billion and is not part of the judicial recovery plan. The largest outstanding balance is with São Paulo, which totals R$965 million.
According to experts, the debt could be even higher, as Angelo Ambrizzi, head of the tax area, explains: “One thing is the company’s consolidated debt, which exists today, declared. On the balance sheet, we know how much it owes, in general terms, but we don’t know the details of this debt. Another thing is the ‘hidden liability’, which lies in the accounting inconsistencies, which we don’t know what they are, whether they are real or not, and whether they have repercussions.”
The debt could still increase due to an accounting reclassification. “Everything will depend on the adjustments to the alleged inconsistencies. They will have to reclassify and this could trigger a series of non-compliance with ancillary obligations and uncollected taxes, with interest and fines,” explains Dr. Marcos Martins.
The company has 60 days to submit its plan for judicial reorganization, which was accepted following a request made last Thursday, the 19th.
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