October 17 2019  |  Industry News

Dufry to be entitled to reclaim tax payments in Brazil

By Laura Shirk


To enforce the tax reclaim, the leading global travel retailer will need to initiate enforcement proceedings, which are expected to last a few days

Dufry has been notified that a decision of the Federal Court in Rio de Janeiro in a lawsuit between one of its Brazilian subsidiaries and the Brazilian tax authority became final and non-appealable.

Based on this decision, Dufry will be entitled to reclaim tax payments made in prior years. Along with the exact amount of the tax reclaim, the effects that may fully or partially set off the tax reclaim, timing of the actual recovery of the amount and financial impact of the decision going forward are still being evaluated.

At this stage, Dufry estimates that the positive net amount of the tax reclaim could be approximately CHF 40 – 50 million, resulting in a corresponding one-time positive effect on its results.

The leading global travel retailer aims to account for the effect of the tax reclaims still in 2019. To enforce the tax reclaim, Dufry will need to initiate enforcement proceedings, which are expected to last a few days.

Headquartered in Basel, Switzerland, the company operates in 64 countries in all six continents and employs over 30 000 people.

REGION Americas

Brand News

December 8 2021

Pernod Ricard GTR x DDF launch…

Pernod Ricard Global Travel Retail (PR GTR) has announced the launch of its exclusive Royal Salute Dubai City edition, in…

December 8 2021

GDF Plaza hosts inaugural FOREO…

Celebrating another first for FOREO, its sister brand FAQ™ and travel retailer GDF Plaza in Haikou, Hainan, hosted a special…

December 7 2021

Habanos debuts new cigar in Benelux…

​In a world premiere, Habanos S.A. has presented the new Juan López Selección Especial cigar through Laguito 1492, its exclusive…

December 7 2021

Bolloré Logistics names new Head…

​Bolloré Logistics, the international supply chain operator, has appointed Anne-Laure Marchal as Head of Cosmetics for the…

December 7 2021

Molton Brown aims to help build…

​British luxury fragrance brand Molton Brown is celebrating its 50th anniversary with a pledge…

December 7 2021

FOREO hosts training session with…

​Following the announcement of its new partnership with e-commerce specialist Yegeun F&C, Swedish beauty and tech giant FOREO…

December 7 2021

NARS gets playful in Hainan with…

​Shiseido Travel Retail brought star power to Haitang Bay with an exclusive consumer event for NARS showcasing the makeup…

December 7 2021

Puig spotlights niche fragrances…

​Beauty group Puig is bringing Penhaligon’s to life in activations at Dubai and London Heathrow airports amid rapid expansion…

December 6 2021

Bacardi opens three whisky shop-in-shops…

Bacardi Global Travel Retail has opened three whisky shop-in-shops at Mova Mall, Haikou in Hainan

Copyright 2021 DutyFree Magazine. All rights reserved. Privacy Policy Sitemap