Tax Dispute Shakes Grupo Mateus Financials

Grupo Mateus, a significant Brazilian retailer, recently faced a substantial and hefty tax assessment from authorities. The Brazilian Federal Revenue Service issued a R$1.05 billion ($210 million) charge on September 7, 2024. This assessment targets Grupo Mateus’ subsidiary, Armazém Mateus, covering fiscal years 2014 to 2021. The tax authorities question the exclusion of presumed ICMS […]