Brazilian steelmaker Companhia Siderurgica Nacional (CSN) will have to pay BRL 4 billion (US$1.78 billion) to the country's revenue service Receita Federal as a result of unpaid taxes.
According to the nation's fiscal council Carf, CSN did not pay taxes over the net profit the company had after selling a 40 percent stake of the mining company Namisa to Chinese and Korean investors in 2008.
Under the original decision, CSN would have to pay BRL 6.3 billion ($2.8 billion), but Carf revised that amount to $1.78 billion.
According to media reports, CSN adopted an illegal tax plan at the time of the deal.
Source:
http://www.steelorbis.com/steel-news/latest-news/csn-to-pay-178-billion-in-taxes-to-brazilian-revenue-service-844925.htm
