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Income taxes (Tables)

6 Months Ended

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

X

- Definition

The disclosure of deferred taxes. [Refer: Deferred tax liabilities; Deferred tax assets]

+ References

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- Definition

The disclosure of types of temporary differences, unused tax losses and unused tax credits. [Refer: Unused tax credits [member]; Unused tax losses [member]; Temporary differences [member]]

+ References

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Tabular disclosure of tax credit carryforwards available to reduce future taxable income, including amounts, expiration dates, limitations on use and the related deferred tax assets and valuation allowances.

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