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Taxes (Tables) | 12 Months Ended
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Dec. 31, 2023
Notes and other explanatory information [abstract] |
Schedule of income tax reconciliation |
Schedule of income tax reconciliation |  |  |  |
|  |  | Year ended December 31,
| Notes | 2023 | 2022 | 2021
Income before income taxes |  | 11,151 | 19,781 | 29,541
Income taxes at statutory rate (34%) |  | (3,791) | (6,726) | (10,044)
Adjustments that affect the taxes basis: |  |  |  |
Tax incentives |  | 1,071 | 1,247 | 2,826
Income tax benefit from interest on capital |  | 789 | 556 | 260
Equity results |  | 88 | 84 | 167
Addition of tax loss carryforward |  | 409 | 899 | 663
Reclassification of cumulative adjustments to the income statement |  | - | 547 | 1,471
Reversal of deferred income tax related to Renova Foundation | 26(e) | (1,078) | - | -
Liabilities related to associates and joint ventures | 26(c) | (404) | - | -
Other |  | (130) | 422 | (40)
Income taxes |  | (3,046) | (2,971) | (4,697)
Current tax |  | (1,375) | (2,020) | (5,663)
Deferred tax |  | (1,671) | (951) | 966
Income taxes |  | (3,046) | (2,971) | (4,697)
Schedule of deferred income tax assets and liabilities |
Schedule of deferred income tax assets and liabilities |  |  |  |
| Deferred tax assets Deferred tax liabilities
| Year ended December 31,
| 2023 | 2022 | 2023 | 2022
Taxes losses carryforward | 5,704 | 5,908 | - | -
Temporary differences: |  |  |  |
Asset retirement obligations and other liabilities (i) | 4,165 | 4,875 | (807) | (714)
Fair value of financial instruments | 735 | 839 | - | -
Employee post-retirement obligation | 478 | 411 | - | -
Provision for litigation | 306 | 364 | - | -
Fair value of property, plant and equipment in business combination | - | - | (2,034) | (2,205)
Goodwill amortization | - | - | (575) | (518)
Other | 723 | 397 | - | -
| 12,111 | 12,794 | (3,416) | (3,437)
Financial position |  |  |  |
Assets | 9,565 | 10,770 | - | -
Liabilities | - | - | (870) | (1,413)
(i) | Following the adoption of the amendment to IAS 12 – Deferred Taxes related to Assets and Liabilities Arising from a Single Transaction, the Company started disclosing separately the deferred tax assets and deferred tax liabilities arising from the decommissioning of assets, environmental obligations, and leases, which resulted in an increase of US$807 in deferred tax assets and deferred tax liabilities. Comparative information was restated to reflect the effects of the adoption, resulting in an increase of US$714 in deferred tax assets and deferred tax liabilities. Therefore, there has been no impact on the deferred tax balances recorded in the Company's financial statements.
Schedule of changes in deferred tax assets and liability |
Schedule of changes in deferred tax assets and liability |  |  |
| Assets | Liabilities | Deferred taxes, net
Balance as of December 31, 2021 | 11,441 | 1,881 | 9,560
Taxes losses carryforward | (68) | - | (68)
Provision for asset retirement obligations and other liabilities | (488) | 114 | (602)
Fair value of financial instruments | (634) | - | (634)
Allocated goodwill | - | (607) | 607
Other | (254) | - | (254)
Effect in income statement | (1,444) | (493) | (951)
Employee post-retirement obligation | (116) | - | (116)
Fair value of financial instruments | 73 | - | 73
Other comprehensive income | (43) | - | (43)
Transfer between assets and liabilities | 130 | 130 | -
Translation adjustment | 686 | (77) | 763
Sale of California Steel Industries | - | (28) | 28
Balance as of December 31, 2022 | 10,770 | 1,413 | 9,357
Taxes losses carryforward | (609) | - | (609)
Provision for asset retirement obligations and other liabilities | (1,123) | 86 | (1,209)
Fair value of financial instruments | (168) | - | (168)
Allocated goodwill | - | (64) | 64
Other | 251 | - | 251
Effect in income statement | (1,649) | 22 | (1,671)
Employee post-retirement obligation | 34 | - | 34
Fair value of financial instruments | 32 | - | 32
Other comprehensive income | 66 | - | 66
Transfer between assets and liabilities | (371) | (371) | -
Translation adjustment | 749 | 19 | 730
Transfer to asset to held for sale | - | (213) | -
Balance as of December 31, 2023 | 9,565 | 870 | 8,482
Schedule of income taxes settlement program |
Schedule of income taxes settlement program |  |
| December 31, 2023 | December 31, 2022
Current liabilities | 428 | 371
Non-current liabilities | 1,723 | 1,869
REFIS liabilities | 2,151 | 2,240
SELIC rate | 11.75% | 13.75%
Schedule of uncertain tax positions |
Schedule of uncertain tax positions |  |  |  |  |  |
| December 31, 2023 | December 31, 2022
| Assessed (i) | Not in dispute (ii) | Total | Assessed (i) | Not in dispute (ii) | Total
UTPs not recorded on statement of financial position (iii) |  |  |  |  |  |
Transfer pricing over the exportation of ores to a foreign subsidiary | 2,144 | 3,010 | 5,154 | 1,190 | 2,592 | 3,782
Expenses of interest on capital | 1,511 | - | 1,511 | 1,288 | - | 1,288
Proceeding related to income tax paid abroad | 512 | - | 512 | 439 | - | 439
Goodwill amortization | 606 | 190 | 796 | 578 | 223 | 801
Payments to Renova Foundation | 167 | 536 | 703 | 29 | 530 | 559
Other | 468 | - | 468 | 699 | - | 699
Total not recoeded on statement of financial position | 5,408 | 3,736 | 9,144 | 4,223 | 3,345 | 7,568
UTPs recorded on statement of financial position |  |  |  |  |  |
Deduction of CSLL in Brazil | 183 | - | 183 | 155 | - | 155
Total recorded on statement of financial position | 183 | - | 183 | 155 | - | 155
(i) | Includes the tax effects arising from the reduction of the tax losses and negative basis of the CSLL without fines and interest.
(ii) | Includes the principal, without fines and interest.
(iii) | Based on the assessment of its internal and external legal advisors, the Company believes that the tax treatment adopted for these matters will be accepted in decisions of the higher courts on last instance.
Schedule of recoverable and payable taxes |
Schedule of recoverable and payable taxes |  |  |  |  |  |
| December 31, 2023 | December 31, 2022
| Current assets | Non-current assets | Current liabilities | Current assets | Non-current assets | Current liabilities
Value-added tax ("ICMS") | 232 | 5 | 25 | 261 | 1 | 46
Brazilian federal contributions ("PIS" and "COFINS") (i) | 355 | 1,010 | 615 | 690 | 740 | 35
Income taxes | 302 | 358 | 429 | 309 | 369 | 221
Financial compensation for the exploration of mineral resources ("CFEM") | - | - | 93 | - | - | 54
Other | 11 | 1 | 152 | 12 | - | 114
Total | 900 | 1,374 | 1,314 | 1,272 | 1,110 | 470
(i) | In December 2023, a judicial decision was issued in a lawsuit related with Brazilian federal contributions (“PIS” and “COFINS”), which is fully guaranteed by a judicial deposit, determining the conversion of part of the judicial deposit to the Government, resulting in the reclassification of the amount to payable taxes. Further details are presented in note 28 of these financial statements.

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