Pluxee Considers Legal Action Against New Brazilian Measures
Pluxee has responded to recent announcements by the Brazilian government regarding the Worker's Food Program, expressing concerns about the proposed changes.
Significant Deviations from Previous Discussions
According to Pluxee, the measures announced by the Brazilian government concerning the Worker's Food Program (PAT) significantly differ from previous discussions held with the professional association ABBT. The changes include modifications to the merchant commission rate, reimbursement timelines, and the handling of meal vouchers. These measures, set to become effective within 90 days, raise concerns about the program's viability, particularly in terms of misuse, non-compliance, and credit imbalances with public clients.
Potential Impact on Private Business Relationships
Pluxee has expressed concern about the impact of these measures on private business relationships and the ability of issuers to remain innovative and competitive. The group indicates that it might undertake legal action, either alone or with the support of ABBT, to challenge these new provisions.
Financial Implications and Mitigation Plans
Pluxee plans, once the decree is published and after the transition period, to assess the potential financial implications of these measures. The group will conduct a thorough analysis and develop a mitigation plan before communicating its findings later.
