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SÃO PAULO – The Federal Tax Service has launched an investigation into whether Coca-Cola is outperforming its products to increase profits in the Manaus free zone, where its factory is located.
This survey comes in a moment in which remittances from the Brazilian subsidiary in the United States increased by nearly 1 billion reais between 2016 and last year.
Since 2015, US tax authorities have charged Coca $ 3.3 billion in royalties from seven countries, including Brazil.
Coca-Cola has already been notified by Revenue. The company denies any irregularity.
The persons accompanying the investigation claim that Coca-Cola is in the crosshairs of the auditors because it is suspected that the subsidiary took advantage of the tax benefits of the Free Trade Area and overvalued its concentrates
Tax rules in effect until May of this year, for every R $ 100 sold in concentrate, bottlers generated $ 20 R in tax credits, which can be used for: Income and CSLL [19659002] As part of the investigation, Coca-Cola executives must explain why the manufacturer sells the kilo of syrup for around R $ 200 if the product is exported for around R $ 20.
This situation has already been questioned by the company's competitors who have access to the export system managed by the Ministry of Industry and Foreign Trade.
As most of the conditioners belong to Coca-Cola itself, it is suspected that this would minimize the payment of taxes and that the group's profit would be transferred to the balance of its factory in the free zone.
This increase over the years would have allowed remittances.
According to the report, remittances from the Brazilian subsidiary to the parent company rose from R $ 1.5 billion in 2016 to R $ 2.4 billion in 2017.
Since 2015, Coca -Cola and IRS (Internal Revenue Service) discussed the payment of the $ 3.3 billion tax suspension.
But US tax authorities have estimated that Coca-Cola is charging less than it should for the right to manufacture and sell the beverage in Brazil, Chile and Costa Rica. , Egypt, Ireland, Mexico and Switzerland between 2007 and 2009.
Only coca bottlers or the like generate about 60% of all IPI (industrial product tax) credits in the Manaus Free Trade Area [19659002] In 2016, the beverage sector generated R $ 2 billion in loans in the region. After paying R $ 767 million in IPI, companies ended up with R $ 1.2 billion to offset taxes.
In other words, the industry generates more credits than it needs to pay taxes effectively.
The measure was part of the compensation for the reduction of taxes on diesel, negotiated during the stoppage of the truck, in May
If this is the case, it is still possible according to those accompanying the surveys, that it is possible to restore the rate of 20%.
There is no illegality in the generation of credits. is confirmed, Coca-Cola will be evaluated and will have to pay the taxes due.
Other Side
Coca-Cola vehemently denied the alleged irregularities. Through his advice, the company said that under Brazilian law, tax benefits can not be transferred abroad and must be reinvested in Brazil.
"We have been active in Brazil for 76 years and for 28 years in the Manaus Free Zone, still in compliance with the legislation in force, as evidenced by the annual external audits and the dealer organizations," he said.
Coca-Cola continues to criticize the Brazilian tax burden According to the company, the current percentage of taxes on soft drinks is 43% – on average, twice the other countries in the region ["
Coca-Cola also reported that the collection of US tax authorities is baseless and that it plans to take all administrative and judicial measures."
"The soft drink industry generates annually R $ 10 billion in taxes. "
The Revenue declined to comment on the case.
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