XML 68 R54.htm IDEA: XBRL DOCUMENT v3.22.4
DEFERRED INCOME TAX AND SOCIAL CONTRIBUTION (Tables)
 12 Months Ended
Dec. 31, 2022
Deferred Income Tax And Social Contribution  
Schedule of expected nominal rates
 
Central America and the Caribbean from 15% to 27%
Latin America - South (i) from 10% to 35%
Canada 26.5%
Luxembourg 24.94%

 

(i) Amendments to Argentine tax legislation enacted in June 2021 and applicable from January 2021 increased the income tax rate from 30% to 35%.
Schedule of deferred income tax
             
  2022   2021
  Assets Liabilities Net   Assets Liabilities Net
Investment securities  7.5   -     7.5     12.5   (2.5)  10.0 
Intangible  -     (1,690.2)  (1,690.2)    -     (1,634.5)  (1,634.5)
Employee benefits  951.2   -     951.2     1,278.2   (2.0)  1,276.2 
Trade payables  3,232.8   (2.9)  3,229.9     4,113.3   (1.1)  4,112.2 
Trade receivables  38.6   (3.8)  34.8     50.6   -     50.6 
Derivatives  95.1   (44.8)  50.3     232.2   (72.4)  159.8 
Interest-Bearing Loans and Borrowings  0.5   (0.9)  (0.4)    -     (1.6)  (1.6)
Inventories  413.9   (139.3)  274.6     328.2   (49.1)  279.1 
Property, plant and equipment  899.5   (2,177.1)  (1,277.6)    645.4   (2,027.0)  (1,381.6)
Withholding tax on undistributed profits and royalties  -     (1,877.6)  (1,877.6)    -     (2,079.5)  (2,079.5)
Investments in joint ventures  -     (421.6)  (421.6)    -     (421.6)  (421.6)
Losses carried forward  2,660.7   -     2,660.7     1,298.8   -     1,298.8 
Provisions  819.3   -     819.3     696.9   (0.2)  696.7 
Impact of the adoption of IFRS 16 (Leases)  35.1   (11.4)  23.7     78.6   (0.3)  78.3 
ICMS on the assessment bases of PIS/COFINS  -     (168.2)  (168.2)    -     (1,019.6)  (1,019.6)
Other items  260.8   (164.1)  96.7     110.3   (19.9)  90.4 
Gross deferred tax assets/(liabilities)  9,415.0   (6,701.9)  2,713.1     8,845.0   (7,331.3)  1,513.7 
Netting by taxable entity  (2,976.2)  2,976.2   -       (4,117.3)  4,117.3   -   
Net deferred tax assets/(liabilities)  6,438.8   (3,725.7)  2,713.1     4,727.7   (3,214.0)  1,513.7 
Schedule of deferred tax assets and liabilities
     
  2022
Deferred taxes not related to tax losses to be realized within 12 months to be realized after 12 months Total
 
Investment securities  -     7.5   7.5 
Intangible  (1.3)  (1,688.9)  (1,690.2)
Employee benefits  230.8   720.4   951.2 
Trade payables  (209.4)  3,439.3   3,229.9 
Trade receivables  25.8   9.0   34.8 
Derivatives  (199.9)  250.2   50.3 
Interest-bearing loans and borrowings  (0.6)  0.2   (0.4)
Inventories  403.3   (128.7)  274.6 
Property, plant and equipment  51.7   (1,329.3)  (1,277.6)
Withholding tax on undistributed profits and royalties  (172.7)  (1,704.9)  (1,877.6)
Investments in joint ventures  -     (421.6)  (421.6)
Provisions  465.2   354.1   819.3 
Impact of the adoption of IFRS 16 (Leases)  -     23.7   23.7 
ICMS on the assessment bases of PIS/COFINS  -     (168.2)  (168.2)
Other items  29.0   67.7   96.7 
Total  621.9   (569.5)  52.4 
Schedule of deferred tax realization related to tax losses

 
Deferred tax related to tax losses 2022
2023  256.9 
2024  168.7 
2025  102.9 
2026  106.6 
2027  1,146.6 
2028 a 2030  799.5 
2031 a 2032 (i)  79.5 
Total  2,660.7 

 

(i) There is no expectation of realization beyond a term of ten years.
Schedule of net change in deferred income tax and social contribution
 
At December 31, 2020  1,517.4 
Recognition of actuarial gains/(losses)  (116.6)
Investment hedge – put option granted on subsidiaries  (99.7)
Cash flow hedge – gains/(losses)  (239.9)
Gains/(losses) on translation of other foreign operations   398.0 
Recognized in other comprehensive income  (58.2)
Recognized in the income statement  632.0 
Changes directly in the balance sheet  (577.5)
Recognized in deferred tax  (256.1)
Effect of application of IAS 29 (hyperinflation)  (256.1)
Recognized in other balance sheet group  (321.4)
At December 31, 2021  1,513.7 
Recognition of actuarial gains/(losses)  (146.9)
Investment hedge – put option granted on subsidiaries  (105.0)
Cash flow hedge – gains/(losses)  41.3 
Gains/(losses) on translation of other foreign operations   (419.3)
Recognized in other comprehensive income  (629.9)
Recognized in the income statement  2,374.5 
Changes directly in the balance sheet  (545.2)
Recognized in deferred tax  (595.5)
Effect of application of IAS 29 (hyperinflation)  (595.5)
Recognized in other balance sheet group  50.3 
At December 31, 2022  2,713.1