April 5, 2017 / 3:07 PM / in 4 months

Brazil's BM&FBovespa says tax audit body denies appeal on goodwill case

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SAO PAULO, April 5 (Reuters) - A body of Brazil's tax audit council overruled on Wednesday an appeal presented by exchange and clearinghouse firm BM&FBovespa SA related to the booking of goodwill amortizations dating back to 2008.

In a securities filing, BM&FBovespa said that, once all ongoing legal processes taking place at Carf - as the tax auditing council is known - are finalized, it plans to take the case to Brazilian courts. The value of fines implied in the case was around 1.18 billion reais ($381 million) at the end of last year, the filing said.

$1 = 3.0943 reais Reporting by Guillermo Parra-Bernal

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