Carrefour : Tax dispute in Brazil, collective contractual termination plan in France, “Blockchain†– We reiterate our Buy recommendation
>Tax litigation in Brazil: a one-off f -€ 183m in 2019 - On Monday, 13 May, the group announced that its Brazilian subsidiary Atacadao would book a provision of € 183m on the 2019 accounts to cover the entire risk (240 tax disputes) relating to ICMS credits linked to transfers of base products between states.ICMS is a tax on goods and services in Brazil of 17% on average, paid ultimately by the consumer. Its application is complex, because it must be paid by dist...Carrefour is a distribution group based in France. Co. is engaged in retailing business, primarily in Europe (France, Belgium, Spain, Italy, Poland, and Romania); Asia (China, India, and Taiwan); and Latin America (Argentina and Brazil). Co. offers a variety of fresh produce, products from local suppliers and major-brand products. Co. operates Hypermarkets, Supermarkets, Convenience stores and Cash & Carry stores, as well as food and non-food e-commerce sites. Co. also offers services such as financial and insurance services, travel, entertainment, after-sales services, and leasing of commercial vehicles. As of Dec 31 2013 Co. operated 10,105 stores under its brand.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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