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18. Deferred taxes and contributions (Tables)
 12 Months Ended
Dec. 31, 2017
Deferred Taxes And Contributions Tables  
Deferred taxes
  December 31, 2017 December 31, 2016
Deferred income tax assets    
Provisions 482,863 524,129
Actuarial gain/loss – G1 Plan - 85,044
Pension obligations - G1 165,503 167,922
Donations of underlying asset on concession agreements 55,112 57,317
Credit losses 199,063 266,757
Other 151,562 151,247
Total deferred tax assets 1,054,103 1,252,416
     
Deferred income tax liabilities    
Temporary difference on concession of intangible asset (460,177) (492,341)
Capitalization of borrowing costs (415,379) (374,512)
Profit on supply to governmental entities (76,705) (92,365)
Actuarial gain/loss – G1 Plan (36,538) -
Construction margin (88,947) (91,790)
Borrowing costs (13,111) (15,063)
Total deferred tax liabilities (1,090,857) (1,066,071)
     
Deferred tax assets (liabilities), net (36,754) 186,345
Realization
  December 31, 2017 December 31, 2016
Deferred income tax assets    
to be realized within 12 months 221,999 314,725
to be realized after one year 832,104 937,691
Total deferred tax assets 1,054,103 1,252,416
Deferred income tax liabilities    
to be realized within 12 months (51,520) (143,428)
to be realized after one year (1,039,337) (922,643)
Total deferred tax liabilities (1,090,857) (1,066,071)
Deferred tax asset (liabilities) (36,754) 186,345
Changes
Deferred income tax assets December 31, 2016

Net

change

December 31, 2017
Provisions 524,129 (41,266) 482,863
Actuarial gain/loss – G1 85,044 (85,044) -
Pension obligations - G1 167,922 (2,419) 165,503
Donations of underlying asset on concession agreements 57,317 (2,205) 55,112
Credit losses 266,757 (67,694) 199,063
Other 151,247 315 151,562
Total 1,252,416 (198,313) 1,054,103
       
Deferred income tax liabilities      
Temporary difference on concession of intangible asset (492,341) 32,164 (460,177)
Capitalization of borrowing costs (374,512) (40,867) (415,379)
Profit on supply to governmental entities (92,365) 15,660 (76,705)
Actuarial gain/loss – G1 - (36,538) (36,538)
Construction margin (91,790) 2,843 (88,947)
Borrowing costs (15,063) 1,952 (13,111)
Total (1,066,071) (24,786) (1,090,857)
       
Deferred tax assets (liabilities), net 186,345 (223,099) (36,754)

 

Deferred income tax assets December 31, 2015

Net

change

December 31, 2016
Provisions 480,378 43,751 524,129
Actuarial gain/loss – G1 - 85,044 85,044
Pension obligations - G1 256,808 (88,886) 167,922
Donations of underlying asset on concession agreements 53,206 4,111 57,317
Credit losses 213,171 53,586 266,757
Tax losses 58,829 (58,829) -
Other 121,550 29,697 151,247
Total 1,183,942 68,474 1,252,416
       
Deferred income tax liabilities      
Temporary difference on concession of intangible asset (524,495) 32,154 (492,341)
Capitalization of borrowing costs (309,648) (64,864) (374,512)
Profit on supply to governmental entities (81,055) (11,310) (92,365)
Actuarial gain/loss – G1 (33,726) 33,726 -
Construction margin (94,921) 3,131 (91,790)
Borrowing costs (11,855) (3,208) (15,063)
Total (1,055,700) (10,371) (1,066,071)
       
Deferred tax asset, net 128,242 58,103 186,345

  

 

December 31,

2017

December 31,

2016

December 31,

2015

       
Opening balance 186,345 128,242 209,478
Net change in the year:      
 - corresponding entry to the income statement (101,517) (60,667) (50,024)
 - corresponding entry to valuation adjustments to equity (Note 20 (b)) (121,582) 118,770 (31,212)
       
Total net change (223,099) 58,103 (81,236)
Closing balance (36,754) 186,345 128,242

  
Reconciliation of the effective tax rate

  December 31, 2017 December 31, 2016 December 31, 2015
       
Profit before income taxes 3,503,614 4,129,054 587,529
Statutory rate 34% 34% 34%
       
Estimated expense at statutory rate (1,191,229) (1,403,878) (199,760)
Tax benefit of interest on equity 245,444 245,637 56,172
Permanent differences      
     Provision – Law 4,819/58 (i) (57,104) (63,039) (54,679)
     Donations (12,413) (10,987) (3,153)
GESP Agreement (note 10 (vii)) - - 151,465
     Other differences 30,998 50,311 (1,295)
       
Income tax and social contribution (984,304) (1,181,956) (51,250)
       
Current income tax and social contribution (882,787) (1,121,289) (1,226)
Deferred income tax and social contribution (101,517) (60,667) (50,024)
Effective rate 28% 29% 9%

 

(i)     Permanent difference related to the provision for actuarial liability (Note 20 (b) (iii)).