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INCOME AND SOCIAL CONTRIBUTION TAXES (Tables)

12 Months Ended

Dec. 31, 2023

INCOME AND SOCIAL CONTRIBUTION TAXES

Schedule of reconciliations of income and social contribution taxes at statutory rates to amounts presented in the Statement Of Income

​

​	​	​	​	​	​	​	​
​		2023		2022		2021
Income (loss) before income taxes		9,346,605		15,859,027		20,272,568	​
Statutory tax rates		34	%	34	%	34	%
Income and social contribution taxes at statutory rates		(3,177,846)		(5,392,069)		(6,892,673)	​
Tax adjustment with respect to:		​		​			​
- Difference in tax rates in foreign companies		281,754		66,851		403,431	​
- Equity in earnings of unconsolidated companies		281,386		391,621		191,474	​
- Interest on equity (Note 2.14)		302,602		566,740		406,022	​
- Interests on tax lawsuits*	​	134,131	​	20,442	​	551,624	​
- Tax credits and incentives		16,634		36,779		112,521	​
- Deferred tax assets not recognized / Realization, net	​	44,000	​	58,402	​	482,497	​
- Other permanent differences, net	​	307,717		(128,241)		31,474	​
Income and social contribution taxes		(1,809,622)		(4,379,475)		(4,713,630)	​
Current	​	(1,810,459)	​	(3,709,414)	​	(4,306,223)	​
Deferred		837		(670,061)		(407,407)	​

* On September 24, 2021, the Federal Supreme Court finalized the judgment of Topic 962, deciding unanimously that the IR and CS levy was not due on the amounts related to interests (Selic rate) on tax lawsuits. Thus, the effects of such judgment were considered to the tax calculation applied to the interests recorded in each period.

Schedule of breakdown and changes in deferred income and social contribution tax assets and liabilities at statutory tax rates

​

​	​	​	​	​	​	​	​	​	​	​
​	​	Balance as of	​	Recognized in	​	​	​	Comprehensive	​	Balance as of
​		January 1, 2021		income		Others		Income		December 31, 2021
Tax loss carryforward	​	1,220,485	​	(556,480)	​	(24,312)	​	10,156	​	649,849
Social contribution tax losses	​	290,276	​	(187,814)	​	20,625	​	—	​	123,087
Provision for tax, civil and labor liabilities	​	385,463	​	37,256	​	—	​	33	​	422,752
Benefits granted to employees	​	392,257	​	(35,812)	​	—	​	(57,828)	​	298,617
Other temporary differences	​	501,114	​	(144,352)	​	—	​	2,312	​	359,074
Deferred exchange variance	​	1,057,541	​	511,763	​	—	​	7	​	1,569,311
Provision for losses	​	35,520	​	6,576	​	—	​	(5,832)	​	36,264
Fair value adjustments on businesses acquired	​	(550,864)	​	(38,544)	​	—	​	(39,213)	​	(628,621)
​	​	3,331,792	​	(407,407)	​	(3,687)	​	(90,365)	​	2,830,333
​	​	​	​	​	​	​	​	​	​	​
Non-current assets	​	3,393,354	​	​	​		​	​	​	2,929,308
Non-current liabilities	​	(61,562)	​	​	​		​	​	​	(98,975)

​

​	​	​	​	​	​	​	​	​	​	​
​	​	Balance as of	​	Recognized in	​	​	​	Comprehensive	​	Balance as of
​		December 31, 2021		income		Others		Income		December 31, 2022
Tax loss carryforward	​	649,849	​	17,112	​	41	​	(27,956)	​	639,046
Social contribution tax losses	​	123,087	​	50,492	​	—	​	—	​	173,579
Provision for tax, civil and labor liabilities	​	422,752	​	108,240	​	(5,295)	​	(539)	​	525,158
Benefits granted to employees	​	298,617	​	(88)	​	—	​	(98,756)	​	199,773
Other temporary differences	​	359,074	​	(191,137)	​	—	​	179,114	​	347,051
Deferred exchange variance	​	1,569,311	​	(735,097)	​	—	​	121	​	834,335
Provision for losses	​	36,264	​	7,607	​	—	​	(134)	​	43,737
Fair value adjustments on businesses acquired	​	(628,621)	​	72,810	​	(3,142)	​	(135,590)	​	(694,543)
​	​	2,830,333	​	(670,061)	​	(8,396)	​	(83,740)	​	2,068,136
​	​	​	​	​	​	​	​	​	​	​
Non-current assets	​	2,929,308	​	​	​	​	​	​	​	2,164,477
Non-current liabilities	​	(98,975)	​	​	​	​	​	​	​	(96,341)

​

​	​	​	​	​	​	​	​	​	​	​
​	​	Balance as of	​	Recognized in	​	​	​	Comprehensive	​	Balance as of
​		December 31, 2022		income		Others		Income		December 31, 2023
Tax loss carryforward	​	639,046	​	209,405	​	88,975	​	(10)	​	937,416
Social contribution tax losses	​	173,579	​	67,505	​	—	​	—	​	241,084
Provision for tax, civil and labor liabilities	​	525,158	​	55,830	​	—	​	(40)	​	580,948
Benefits granted to employees	​	199,773	​	(276)	​	—	​	(106,576)	​	92,921
Other temporary differences	​	347,051	​	56,739	​	—	​	(120,863)	​	282,927
Deferred exchange variance	​	834,335	​	(410,931)	​	—	​	223	​	423,627
Provision for losses	​	43,737	​	49,696	​	—	​	(33)	​	93,400
Fair value adjustments on businesses acquired	​	(694,543)	​	(27,131)	​	—	​	84,661	​	(637,013)
​	​	2,068,136	​	837	​	88,975	​	(142,638)	​	2,015,310
​	​	​	​	​	​	​	​	​	​	​
Non-current assets	​	2,164,477	​	​	​	​	​	​	​	2,219,461
Non-current liabilities	​	(96,341)	​	​	​	​	​	​	​	(204,151)

​

Schedule of estimated recovery and reversal of income and social contributions tax assets and liabilities

​

​	​	​	​	​	​	​	​	​
​	​	Assets				Liabilities
​		2023		2022		2023		2022
2023	​	—		622,110		—		—
2024	​	441,109		458,222		(90,751)		(46,976)
2025	​	406,774		435,473		(29,983)		(29,100)
2026	​	379,248		221,496		(29,219)		(7,259)
2027	​	273,083		212,803		(11,698)		(5,637)
2028 on	​	719,247		214,373		(42,500)		(7,369)
​	​	2,219,461		2,164,477		(204,151)		(96,341)

​

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