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Taxes (Tables)
 6 Months Ended
Jun. 30, 2022
Taxes  
Summary of Income Taxes

 

11.1.Income taxes

  Current assets Current liabilities Non-current liabilities
  06.30.2022 12.31.2021 06.30.2022 12.31.2021 06.30.2022 12.31.2021
Taxes in Brazil            
Income taxes 140 133 1,583 682 - -
Income taxes - Tax settlement programs - - 47 43 310 300
  140 133 1,630 725 310 300
Taxes abroad 2 30 292 8 - -
Total 142 163 1,922 733 310 300
             
Summary of Outstanding Amount of Settlement Year

  Jan-Jun/2022 Jan-Jun/2021 Apr-Jun/2022 Apr-Jun/2021
Net income before income taxes 29,564 12,459 16,350 11,940
Nominal income taxes computed based on Brazilian statutory corporate tax rates (34%) (10,051) (4,236) (5,559) (4,060)
Adjustments to arrive at the effective tax rate:        
Tax benefits from the deduction of interest on capital distribution 383 - 383 -
Different jurisdictional tax rates for companies abroad 394 (70) 203 (93)
Brazilian income taxes on income of companies incorporated outside Brazil (*) (628) (199) (329) 6
Tax loss carryforwards (unrecognized tax losses) (1) (21) (10) 9
Non-taxable income (non-deductible expenses), net (**) 68 234 44 195
Post-employment benefits (186) (90) (44) (46)
Results of equity-accounted investments in Brazil and abroad 120 279 (3) 205
Others 26 - 6 -
Income taxes (9,875) (4,103) (5,309) (3,784)
Deferred income taxes (1,989) (3,883) (28) (3,683)
Current income taxes (7,886) (220) (5,281) (101)
Effective tax rate of income taxes 33.4% 32.9% 32.5% 31.7%
(*) It relates to Brazilian income taxes on earnings of offshore investees, as established by Law No. 12,973/2014.
(**) It includes provisions for legal proceedings.
Summary of composition of deferred tax assets and liabilities

The composition of deferred tax assets and liabilities is set out in the following table:

 

Nature Realization basis 06.30.2022 12.31.2021
PP&E - Exploration and decommissioning costs Depreciation, amortization and write-offs of assets (781) (1,362)
PP&E - Impairment Amortization, impairment reversals and write-offs of assets 4,643 4,382
PP&E - depreciation methods and capitalized borrowing costs Depreciation, amortization and write-offs of assets (15,461) (12,924)
Loans, trade and other receivables / payables and financing Payments, receipts and considerations 1,418 3,490
Lease liabilities Appropriation of the considerations 589 1,244
Provision for legal proceedings Payments and use of provisions 757 605
Tax loss carryforwards 30% of taxable income compensation 643 1,827
Inventories Sales, write-downs and losses 340 228
Employee Benefits Payments and use of provisions 1,216 1,250
Others   289 635
Total   (6,347) (625)
Deferred tax assets   548 604
Deferred tax liabilities (*)   (6,895) (1,229)
(*) Changes in deferred tax liabilities are mainly due to the offsetting of the tax losses carryforwards and negative basis of CSLL, and to the use of the benefit of accelerated tax depreciation.
Summary of the Changes in the Deferred Income Taxes

The changes in the deferred income taxes are presented as follows:

  Jan-Jun/2022 Jan-Jun/2021
Opening Balance (625) 6,256
Recognized in the statement of income for the period (1,989) (3,883)
Recognized in shareholders’ equity (2,571) (2,202)
Cumulative translation adjustment (29) (58)
Use of tax loss carryforwards (1,137) -
Others 4 2
Closing balance (6,347) 115
 

 
Summary of Other Taxes

 

11.2.Other taxes

  Current assets Non-current assets Current liabilities Non-current liabilities (*)
  06.30.2022 12.31.2021 06.30.2022 12.31.2021 06.30.2022 12.31.2021 06.30.2022 12.31.2021
Taxes in Brazil                
Current / Non-current ICMS (VAT) 714 665 388 379 752 995 - -
Current / Non-current PIS and COFINS (**) 322 418 2,339 2,030 295 499 66 45
Claim to recover PIS and COFINS - - 643 594 - - - -
CIDE 1 6 - - 26 42 - -
Production taxes - - - - 2,462 2,147 22 21
Withholding income taxes - - - - 56 86 - -
Tax Settlement Program - - - - 50 67 7 6
Others 41 48 269 249 111 142 80 70
Total in Brazil 1,078 1,137 3,639 3,252 3,752 3,978 175 142
Taxes abroad 54 46 9 9 32 23 - -
Total 1,132 1,183 3,648 3,261 3,784 4,001 175 142
(*) Other non-current taxes are classified as other non-current liabilities.
(**) It includes US$ 75 (US$ 104 as of December 31, 2021) related to exclusion of ICMS (VAT tax) in the basis of calculation of sales taxes PIS and COFINS (contributions for the social security).