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FATO RELEVANTE
A IOCHPE-MAXION S.A. (“Companhia”), nos termos do disposto no §4º do artigo 157 da Lei
nº 6.404/76 (“Lei das Sociedades por Ações”), e na Instrução da Comissão de Valores Mobiliários
(“CVM”) nº 358/02, vem informar aos seus acionistas e ao mercado o que segue:
Trânsito em julgado de ação sobre exclusão do valor do ICMS da base de cálculo do PIS e da
COFINS
2. Ressalta-se, por fim, que, para aproveitamento dos referidos créditos, os respectivos
valores deverão ainda ser objeto de validação via procedimento administrativo ou judicial
perante os órgãos competentes.
3. Ressalta-se que a finalização do potencial acordo está sujeita à aprovação final das
autoridades fiscais mexicanas. Se e quando o referido acordo for validado pelas autoridades
fiscais mexicanas, o que se estima poderá eventualmente ocorrer dentro do exercício de
2021, o montante final correspondente será reconhecido nas demonstrações financeiras
consolidadas da Companhia, conforme as práticas contábeis adotadas no Brasil.
4. Esclarece-se que na hipótese de o acordo antes mencionado não obter a aprovação final das
autoridades fiscais mexicanas, a Companhia pretende defender os seus interesses na esfera
judicial.
RELEVANT FACT
IOCHPE-MAXION S.A. (“Company”), pursuant §4th of article 157 of Law nº 6,404/76 (“Law of
Corporations”), and to the Instruction nº 358/02 of the Brazilian Securities Commission (“CVM”,
for its Portuguese acronym), hereby informs its shareholders and the market that:
Final and unappealable decision in lawsuit on the exclusion of the ICMS amount from the
calculation basis of the PIS and COFINS
1. On this date, the Company became aware of the final and unappealable decision in its favor
in a lawsuit claiming the exclusion of the ICMS value from the calculation basis of the PIS
and COFINS. As of the recent decision of the Federal Supreme Court that clarified that the
ICMS amount to be excluded from the calculation basis of PIS and COFINS is the one
highlighted in the invoice, the Company carried out a review of the amounts involved in such
lawsuit, being the best estimate so far that the total updated credits to which it would be
entitled, as a result of the aforementioned decision, represent, before tax effects, R$ 240
million. Pursuant to discussions held with its independent auditors, the amount of said
credits will be recognized in the Company's interim accounting information for the quarter
ended June 30, 2021.
2. Finally, it should be noted that, in order to use said credits, the respective amounts must
also be subject to validation through administrative or judicial proceedings before the
competent bodies.
1. Within the scope of an audit conducted by the Mexican tax authorities, for the year ended
December 31, 2012, a tax assessment notice was issued against an indirect subsidiary of the
Company in Mexico, which it is mainly alleged as follows: (i) supposed non-deductibility for
tax purposes of interest expenses on financing obtained for the acquisition in January 2012
of the Mexican company Grupo Galaz, S.A. de C.V. and its subsidiaries; and (ii) supposed
omission of revenue due to the concept of capital gain in the intra-group sale of shares
issued by Grupo Galaz, S.A. de C.V. which took place in December 2012, as part of the
restructuring carried out by the Company after the acquisition of the North American group
Hayes Lemmerz, also carried out in 2012. The subsidiary in question filed the relevant appeal
at the administrative level, which is awaiting judgment. In light of the facts and allegations
exposed so far, the Company's legal advisors understand that the chance of success of said
subsidiary at the final court instance is more likely than not. On December 31, 2020, the
updated amount involved in this assessment corresponded to R$ 676 million, considering
the exchange rate applicable on that date, as disclosed in the Company's Reference Form.
2. Notwithstanding the above, in order to avoid lawsuits on the subject, as well as the costs
arising therefrom, considering the relevant amount involved, the Company deemed it
appropriate and in its best interest to seek an extrajudicial settlement agreement with the
Mexican tax authorities, to put an end to the discussion still at the administrative level, being
the best estimate for the finalization of such potential agreement the approximate amount
of R$ 150 million, based on the current exchange rate.
3. It should be noted that the finalization of the potential agreement is subject to the final
approval of the Mexican tax authorities. If and when said agreement is validated by the
Mexican tax authorities, which is estimated to eventually occur within fiscal year 2021, the
corresponding final amount will be recognized in the Company's consolidated financial
statements, in accordance with accounting practices adopted in Brazil.
4. It is clarified that in the event that the aforementioned agreement does not obtain the final
approval of the Mexican tax authorities, the Company intends to defend its interests at the
judicial courts.
The Company will keep the market informed of any relevant information on the subject.