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15. INCOME TAX AND SOCIAL CONTRIBUTION (Tables) | 12 Months Ended
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Dec. 31, 2018
Income Tax And Social Contribution Tables Abstract |
Income tax and social contribution income (expense) |
| Consolidated
| 12/31/2018 |  | 12/31/2017 | 12/31/2016
Income tax and social contribution income (expense) |  |  |  |
Current | (827,229) |  | (358,981) | (206,178)
Deferred | 576,895 |  | (50,128) | (60,368)
| (250,334) |  | (409,109) | (266,546)
Reconciliation of income tax and social contribution income (expense) |
|  |  | Consolidated
| 12/31/2018 |  | 12/31/2017 |  | 12/31/2016
Profit/(Loss) before income tax and social contribution | 5,450,917 |  | 520,338 |  | (576,951)
Tax rate | 34% |  | 34% |  | 34%
Income tax and social contribution at combined statutory rate | (1,853,312) |  | (176,915) |  | 196,163
Adjustment to reflect the effective rate: |  |  |  |  |
Equity in results of affiliated companies | 50,134 |  | 42,431 |  | 22,072
Profit with differentiated rates or untaxed | (46,006) |  | 37,605 |  | (287,502)
Transfer pricing adjustment | (74,836) |  | (34,746) |  | (63,638)
Tax loss carryforwards without recognizing deferred taxes | (27,683) |  | (368,612) |  | (821,920)
Indebtdness limit | (38,486) |  | (39,378) |  | (35,391)
Unrecorded deferred taxes on temporary differences | (11,964) |  | 541,655 |  | 643,990
Deferred Income Tax and social contribution on temporary differences | 971,972 |  |  |  |
(Losses)/Reversal for deferred income and social contribution tax credits | 835,937 |  | (403,080) |  | 44,691
Income taxes and social contribution on foreign profit | (30,219) |  | (29,964) |  | (35,613)
Amortization – Goodwill Metalic |  |  |  |  | 31,439
Tax incentives | 36,710 |  | 14,358 |  | 22,673
Deferred taxes on exchange variation in equity | (43,667) |  |  |  |
Other permanent deductions (additions) | (18,914) |  | 7,537 |  | 16,490
Income tax and social contribution in profit for the period | (250,334) |  | (409,109) |  | (266,546)
Effective tax rate | 5% |  | 79% |  | -46%
Deferred income tax and social contribution |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Consolidated
| 12/31/2016 |  | Movement | 12/31/2017 |  | Movement |  | 12/31/2018
|  | Shareholders' Equity |  | P&L |  | Others |  | Shareholders' Equity |  | P&L |  | Others |  |
Deferred |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income tax losses | 970,800 |  |  |  | 245,846 |  | (79,412) | 1,137,234 |  |  |  | (177,378) |  | (616) |  |  | 959,240
Social contribution tax losses | 340,629 |  |  |  | 94,843 |  | (28,588) | 406,884 |  |  |  | (39,303) |  | (223) |  |  | 367,358
Temporary differences | (2,288,175) |  | 26,778 |  | (390,817) |  | (2,344) | (2,654,558) |  | 21,208 |  | 793,576 |  | 839 |  |  | (1,838,935)
- Provision for tax. social security, labor, civil and environmental risks | 256,936 |  |  |  | 12,963 |  |  | 269,899 |  |  |  | (5,846) |  | 3,184 |  |  | 267,237
- Provision for environmental liabilities | 95,048 |  |  |  | (8,197) |  |  | 86,851 |  |  |  | (19,708) |  |  |  |  | 67,143
- Asset impairment losses | 93,908 |  |  |  | (5,475) |  |  | 88,433 |  |  |  | (7,092) |  |  |  |  | 81,341
- Inventory impairment losses | 35,703 |  |  |  | 10,111 |  |  | 45,814 |  |  |  | (7,054) |  |  |  |  | 38,760
- (Gains)/losses on financial instruments | (2,300) |  |  |  | 1,388 |  |  | (912) |  |  |  | (2,407) |  |  |  |  | (3,319)
- (Gains)/losses on available-for-sale financial assets | 705,929 |  | 316,563 |  |  |  |  | 417,659 |  | 530,292 |  | (584,856) |  |  |  |  | 363,095
- Actuarial liability (pension and healthcare plan) | 134,578 |  | 180,834 |  | (41,065) |  | (1,289) | 273,058 |  | (48) |  | 3,022 |  |  |  |  | 276,032
- Accrued supplies and services | 123,101 |  |  |  | (55,385) |  |  | 67,716 |  |  |  | 27,928 |  |  |  |  | 95,644
- Allowance for doubtful debts | 42,008 |  |  |  | 5,208 |  |  | 47,216 |  |  |  | 14,199 |  |  |  |  | 61,415
- Goodwill on merger | 815 |  |  |  | (207) |  |  | 608 |  |  |  | (608) |  |  |  |  |
- Unrealized ex change differences (1) | 1,589,651 |  | 56,493 |  | (134,992) |  |  | 1,511,152 |  |  |  | (500,620) |  |  |  |  | 1,010,532
- (Gain) on loss of control over Transnordestina | (92,180) |  |  |  |  |  |  | (92,180) |  |  |  |  |  |  |  |  | (92,180)
- Cash flow hedge accounting | 148,471 |  | (13,992) |  |  |  |  | 134,479 |  | 355,563 |  |  |  |  |  |  | 490,042
- Aquisition Fair Value SWT/CBL | (199,001) |  | (21,143) |  | 26,833 |  |  | (193,311) |  | (16,683) |  | 37,880 |  |  |  |  | (172,114)
- Deferred taxes non computed | (1,324,437) |  | (566,173) |  | (3,255) |  | (115) | (212,236) |  |  |  | (38,359) |  | (2,345) |  |  | (252,940)
- (Losses) estimated/ reversals to deferred taxes credits | (3,013,730) |  | 82,769 |  | (123,056) |  |  | (4,130,928) |  | (885,069) |  | 1,929,424 |  |  |  |  | (3,086,573)
- Business Combination | (1,072,824) |  |  |  | 32,288 |  |  | (1,040,536) |  |  |  | 9,724 |  |  |  |  | (1,030,812)
- Other | 190,149 |  | (8,573) |  | (107,976) |  | (940) | 72,660 |  | 37,153 |  | (62,051) |  |  |  |  | 47,762
Total | (976,746) |  | 26,778 |  | (50,128) |  | (110,344) | (1,110,440) |  | 21,208 |  | 576,895 |  |  |  |  | (512,337)
Total Deferred Assets | 70,151 |  |  |  |  |  |  | 63,119 |  |  |  |  |  |  |  |  | 89,394
Total Deferred Liabilities | (1,046,897) |  |  |  |  |  |  | (1,173,559) |  |  |  |  |  |  |  |  | (601,731)
Total Deferred | (976,746) |  |  |  |  |  |  | (1,110,440) |  |  |  |  |  |  |  |  | (512,337)
Deferred tax assets on tax losses and temporary differences |
| Nature | Description
| Tax losses | In recent periods, the Company started to incur tax losses, mostly because of high financial expenses, since it holds substantially all loans and financings of CSN group and presented a taxable income in 2018.
Temporary differences | Foreign exchange differences | Since 2012 the Company opted for the taxation of exchange differences on a cash basis. As the Company has operated without taxable profit it would not make sense to use this deductibility year by year (accrual basis). As a result of the cash basis tax treatment, taxes are only due, and expenses are only deductible at the time of debt settlement.
Losses on Usiminas shares | The losses on Usiminas shares are recognized on an accrual basis, but the taxable event will occur only at the time of divestment.
Other provisions | Various accounting provisions are recognized on an accrual basis, but their taxation occurs only at the time of its realization, such as provisions for contingencies, impairment losses, environmental liabilities, etc.
Income tax and social contribution recognized in shareholders' equity |
| Consolidated
| 12/31/2018 |  | 12/31/2017
Income tax and social contribution |  |  |
Actuarial gains on defined benefit pension plan | 176,700 |  | 176,658
Estimated losses for deferred income tax and social contribution credits - actuarial gains | (180,048) |  | (180,834)
Changes in the fair value of assets measured at fair value through other comprehensive income |  |  | (530,292)
Estimated losses for deferred income tax and social contribution assets - assets measured at fair value through other comprehensive income |  |  | 530,292
Exchange differences on foreign operations | (325,350) |  | (369,017)
Cash flow hedge accounting | 490,041 |  | 134,478
Estimated losses for deferred income tax and social contribution credits - cash flow hedge | (490,041) |  | (134,478)
| (328,698) |  | (373,193)

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