Brazil stock exchange fined $641 mln on 2008 merger accounting

April 3, 2015 1:09 AM

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SAO PAULO, April 2 (Reuters) - Brazil's BM&FBovespa SA stock exchange has been fined nearly 2 billion reais ($641 million) by the federal revenue service for booking goodwill amortization in 2010 and 2011 related to a 2008 merger, according to a Thursday filing.

The fine involves 1.45 billion reais for income taxes and 523.79 million reais for a tax related to social security. The fines already include 75 percent interest, the filing said.

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