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Income taxes (Tables) | 6 Months Ended
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Jun. 30, 2024
Disclosure of temporary difference, unused tax losses and unused tax credits [abstract] |
Disclosure of temporary difference, unused tax losses and unused tax credits [text block] |
|  | 06/30/2024 |  | 12/31/2023
Tax loss |  | 1,086,797 |  |  | 1,209,968 |
Negative tax basis of social contribution |  | 416,088 |  |  | 457,030 |
Assets - temporary differences |  |  |  |
Provision for judicial liabilities |  | 331,519 |  |  | 324,158 |
Operating provisions and other losses |  | 1,129,889 |  |  | 1,214,807 |
Exchange rate variations |  | 5,233,284 |  |  | 2,384,153 |
Derivatives losses (“MtM”) |  | 628,221 |  |  |
Amortization of fair value adjustments arising from business combinations |  | 633,847 |  |  | 654,358 |
Unrealized profit on inventories |  | 453,809 |  |  | 151,578 |
Leases |  | 491,931 |  |  | 356,110 |
|  | 10,405,385 |  |  | 6,752,162 |
Liabilities - temporary differences |  |  |  |
Goodwill - tax benefit on unamortized goodwill |  | 1,445,770 |  |  | 1,301,654 |
Property, plant and equipment - deemed cost |  | 1,103,321 |  |  | 1,137,483 |
Depreciation for tax-incentive reason (1) |  | 766,530 |  |  | 799,857 |
Capitalized loan costs |  | 920,058 |  |  | 640,063 |
Fair value of biological assets |  | 1,153,340 |  |  | 1,115,432 |
Deferred taxes, net of fair value adjustments |  | 356,612 |  |  | 370,947 |
Tax credits - gains from tax lawsuit (exclusion of ICMS from the PIS and COFINS basis) |  | 148,130 |  |  | 150,691 |
Derivatives gains (“MtM”) |  |  |  |  | 678,090 |
Provision of deferred taxes on results of subsidiaries abroad |  | 81,381 |  |  |  |
Other temporary differences |  | 24,438 |  |  | 24,109 |
|  | 5,999,580 |  |  | 6,218,326 |
Non-current assets |  | 4,418,401 |  |  | 545,213 |
Non-current liabilities |  | 12,596 |  |  | 11,377 |
(1)Tax depreciation is taken as a benefit only in the income tax calculation bases.
Summary of Tax Credit Carryforwards |
|  | 06/30/2024 |  | 12/31/2023
Tax loss carried forward |  | 4,347,188 |  |  | 4,839,872 |
Negative tax basis of social contribution carried forward |  | 4,623,200 |  |  | 5,078,111 |
Disclosure of deferred taxes [text block] |
|  | 06/30/2024 |  | 12/31/2023
Opening balance |  | 533,836 |  |  | 3,985,297 |
Tax loss |  | (123,171) |  |  | 2,872 |
Negative tax basis of social contribution |  | (40,942) |  |  | 11,780 |
Provision for judicial liabilities |  | 7,361 |  |  | 55,562 |
Operating provisions and other losses |  | (84,918) |  |  | 215,779 |
Exchange rate variation |  | 2,849,131 |  |  | (1,913,350) |
Derivative (gains) losses (“MtM”) |  | 1,306,311 |  |  | (668,926) |
Amortization of fair value adjustments arising from business combinations |  | (6,176) |  |  | 2,219 |
Unrealized profit on inventories |  | 302,231 |  |  | (211,474) |
Leases |  | 135,821 |  |  | (8,728) |
Goodwill - tax benefit on unamortized goodwill |  | (144,116) |  |  | (278,551) |
Property, plant and equipment - deemed cost |  | 34,162 |  |  | 79,866 |
Depreciation accelerated for tax-incentive reason |  | 33,327 |  |  | 70,140 |
Capitalized loan costs |  | (279,995) |  |  | (429,229) |
Fair value of biological assets |  | (37,908) |  |  | (412,158) |
Deferred taxes on the results of subsidiaries abroad |  | (81,381) |  |  |  |
Credits on exclusion of ICMS from the PIS/COFINS tax base |  | 2,561 |  |  | 43,430 |
Other temporary differences |  | (329) |  |  | (10,693) |
Closing balance |  | 4,405,805 |  |  | 533,836 |
Disclosure of Reconciliation of Effects of Income Tax and Social Contribution on Profit or Loss |
|  | 06/30/2024 |  | 06/30/2023
Net income (loss) before taxes |  | (6,947,851) |  | 14,380,751
Income tax and social contribution benefit (expense) at statutory nominal rate of 34% |  | 2,362,269 |  | (4,889,455)
Tax effect on permanent differences |  |  |  |
Taxation (difference) on profit of associates in Brazil and abroad (1) |  | 1,017,293 |  | 815,768
Equity method |  | (1,195) |  | 143
Thin capitalization (2) |  |  |  | (27,114)
Credit related to Reintegra Program |  | 4,807 |  | 3,694
Director bonuses |  | (9,347) |  | (3,481)
Tax incentives |  | 26,912 |  | 41,769
Donations/Fines – Other |  | 1,626 |  | (1,659)
|  | 3,402,366 |  | (4,060,335)
Income tax |  |  |  |
Current |  | (370,788) |  | (193,265)
Deferred |  | 2,852,815 |  | (2,830,430)
|  | 2,482,027 |  | (3,023,695)
Social Contribution |  |  |  |
Current |  | (99,416) |  | (17,738)
Deferred |  | 1,019,755 |  | (1,018,902)
|  | 920,339 |  | (1,036,640)
Income and social contribution benefits (expenses) on the period |  | 3,402,366 |  | (4,060,335)
Effective rate of income and social contribution tax expenses |  | 48.97 | % |  | 28.23 | %
(1)The difference in the taxation of subsidiaries is substantially due to the differences between the nominal tax rates in Brazil and those of subsidiaries located abroad. (2)The Brazilian thin capitalization rules establish that interest paid or credited by a Brazilian entity to a related party abroad may only be deducted for income tax and social contribution purposes if the interest expense is viewed as necessary for the activities of the local entity, and when certain limits and requirements are met. On June 30, 2024, all limits and requirements were met, and on June 30, 2023, the Company did not meet all of the limits and requirements, and therefore the expense is not deductible for the period.
Disclosure of Tax Incentives |
Area/Regions |  | Company |  | Maturity
Northeast Development Superintendence (“SUDENE”) |  |  |  |
Eunápolis (BA) |  | Veracel |  | 2025
Aracruz (ES) |  | Portocel |  | 2030
Aracruz (ES) |  | Suzano |  | 2031
Imperatriz (MA) |  | Suzano |  | 2032
Mucuri (BA) |  | Suzano |  | 2032
Superintendence of Amazon Development (“SUDAM”) |  |  |  |
Belém (PA) |  | Suzano |  | 2025

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