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18.INCOME TAX AND SOCIAL CONTRIBUTIONS (Tables) | 12 Months Ended
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Dec. 31, 2020
Income Tax And Social Contributions |
Schedule of income tax and social contribution income (expense) | The income tax and social contribution recognized in net income for the year are as follows:
|  |  |  |  | Consolidated
| 12/31/2020 |  | 12/31/2019 |  | 12/31/2018
Income tax and social contribution income (expense) |  |
Current | (2,052,204) |  | (1,564,622) |  | (827,229)
Deferred | 1,426,696 |  | 2,398,400 |  | 576,895
| (625,508) |  | 833,778 |  | (250,334)
Schedule of reconciliation of income tax and social contribution income (expense) | The reconciliation of income and social contribution expenses and income of the consolidated and the product of the current tax rate on income before income tax and social contribution are shown below:
|  |  |  |  | Consolidated
| 12/31/2020 |  | 12/31/2019 |  | 12/31/2018
Income before income tax and social contribution | 4,918,126 |  | 1,410,733 |  | 5,450,917
Tax rate | 34% |  | 34% |  | 34%
Income tax and social contribution at combined statutory rate | (1,672,163) |  | (479,649) |  | (1,853,312)
Adjustment to reflect the effective rate: |  |  |  |  |
Equity in results of affiliated companies | 28,391 |  | 46,737 |  | 50,134
Profit with differentiated rates or untaxed | (519,840) |  | (236,404) |  | (46,006)
Transfer price adjustment | (15,645) |  | (18,494) |  | (74,836)
Tax loss carryforwards without recognizing deferred taxes | (27,758) |  | (21,095) |  | (27,683)
Indebtdness limit | (25,087) |  | (20,393) |  | (38,486)
Unrecorded deferred taxes on temporary differences | 5,142 |  | (2,835) |  | (11,964)
Reversal for deferred income tax and social contribution credit | 1,540,087 |  | 1,530,185 |  | 1,807,909
Income taxes and social contribution on foreign profit | (13,011) |  | (14,424) |  | (30,219)
Tax incentives | 64,818 |  | 39,042 |  | 36,710
Deferred taxes on exchange variation in equity |  |  |  |  | (43,667)
Interest on equity | 17,177 |  | 22,107 |  |
Other permanent deductions (additions) | (7,619) |  | (10,999) |  | (18,914)
Income tax and social contribution in net income for the year | (625,508) |  | 833,778 |  | (250,334)
Effective tax rate | 13% |  | -59% |  | 79%
Schedule of deferred income tax and social contribution | Deferred income tax and social contribution balances are as follows:
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Consolidated
| 12/31/2018 |  | Movement |  |  |  |  |  | 12/31/2019 |  | Movement |  |  |  |  |  | 12/31/2020
|  |  | Shareholders' Equity |  | P&L |  | Others |  |  |  | Shareholders' Equity |  | P&L |  | Others |  |
Deferred |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income tax losses | 959,240 |  |  |  | 651,561 |  |  |  | 1,610,801 |  |  |  | 238,198 |  |  |  | 1,848,999
Social contribution tax losses | 367,358 |  |  |  | 242,688 |  |  |  | 610,046 |  |  |  | 78,162 |  |  |  | 688,208
Temporary differences | (1,838,935) |  | (2,357) |  | 1,504,151 |  | 59 |  | (337,082) |  | (59,380) |  | 1,110,336 |  | 5,029 |  | 718,903
- Provision for tax. social security, labor, civil and environmental risks | 334,380 |  |  |  | (70,367) |  |  |  | 264,013 |  |  |  | 15,136 |  |  |  | 279,149
- Asset impairment losses | 181,516 |  |  |  | 915 |  |  |  | 182,431 |  |  |  | (26,444) |  | 5,029 |  | 161,016
- (Gains)/losses on financial instruments | 359,776 |  |  |  | 54,719 |  |  |  | 414,495 |  |  |  | (409,468) |  |  |  | 5,027
- Actuarial liability (pension and healthcare plan) | 276,032 |  | 38,569 |  |  |  |  |  | 314,601 |  | (44,732) |  | (7,412) |  |  |  | 262,457
- Accrued supplies and services | 95,644 |  |  |  | 36,767 |  |  |  | 132,411 |  |  |  | 22,041 |  |  |  | 154,452
- Unrealized exchange variation (1) | 1,010,532 |  |  |  | 170,969 |  |  |  | 1,181,501 |  |  |  | (29,175) |  |  |  | 1,152,326
- Gain upon loss of control in Transnordestina | (92,180) |  |  |  |  |  |  |  | (92,180) |  |  |  |  |  |  |  | (92,180)
- Cash flow hedge accounting | 490,041 |  | (63,080) |  |  |  |  |  | 426,961 |  | 1,315,839 |  |  |  |  |  | 1,742,800
- Acquisition at fair value of SWT and CBL | (172,114) |  | (52,071) |  | 39,672 |  |  |  | (184,513) |  | (57,651) |  | 30,149 |  |  |  | (212,015)
- Deferred taxes not computed | (252,940) |  |  |  | (39,021) |  |  |  | (291,961) |  |  |  | (25,966) |  |  |  | (317,927)
- (Losses) estimated /reversals to deferred taxes credits | (3,086,572) |  | 25,159 |  | 1,435,415 |  |  |  | (1,625,998) |  | (1,270,110) |  | 1,548,640 |  |  |  | (1,347,468)
- Business Combination | (1,030,812) |  |  |  | 7,471 |  |  |  | (1,023,341) |  |  |  | 8,292 |  |  |  | (1,015,049)
- Consolidation of CBSI |  |  |  |  | (12) |  | 62 |  | 50 |  |  |  |  |  |  |  | 50
- Others | 47,762 |  | 49,066 |  | (132,377) |  | (3) |  | (35,552) |  | (2,726) |  | (15,457) |  |  |  | (53,735)
Total | (512,337) |  | (2,357) |  | 2,398,400 |  | 59 |  | 1,883,765 |  | (59,380) |  | 1,426,696 |  | 5,029 |  | 3,256,110
Total Deferred Assets | 89,394 |  |  |  |  |  |  |  | 2,473,304 |  |  |  |  |  |  |  | 3,874,946
Total Deferred Liabilities | (601,731) |  |  |  |  |  |  |  | (589,539) |  |  |  |  |  |  |  | (618,836)
Total Deferred | (512,337) |  |  |  |  |  |  |  | 1,883,765 |  |  |  |  |  |  |  | 3,256,110
(1) The Company taxes exchange variations on a cash basis to calculate income tax and social contribution on net income.
Schedule of estimated recovery of deferred tax assets | The estimated recovery of deferred tax assets of IRPJ and CSLL are netted when referring to a single jurisdiction as shown in the table below:
In millions of reais |  | Consolidated
2021 |  | 1,018
2022 |  | 1,315
2023 |  | 1,257
2024 |  | 495
2025 |  | 618
Deferred asset |  | 4,703
Deferred liabilities - Parent Company |  | (828)
Net deferred asset |  | 3,875
Deferred liabilities - subsidiaries |  | (619)
Net deferred asset |  | 3,256
Schedule of income tax and social contribution recognized in shareholders' equity | Income tax and social contribution recognized directly in equity are shown below:
|  |  | Consolidated
| 12/31/2020 |  | 12/31/2019
Income tax and social contribution |  |  |
Actuarial gains on defined benefit pension plan | 170,604 |  | 215,306
Estimated losses for deferred income and social contribution tax credits - actuarial gains | (172,520) |  | (217,969)
Exchange differences on translating foreign operations | (325,350) |  | (325,350)
Cash flow hedge accounting | 1,742,765 |  | 426,961
Estimated losses for deferred income and social contribution tax credits - cash flow hedge | (1,742,520) |  | (426,961)
| (327,021) |  | (328,013)
Schedule of deferred tax assets on tax losses and temporary differences | Deferred income tax / social contribution on tax losses and temporary differences refers mainly to the following items:
| Nature | Brief description
| Tax losses | The Company incurs tax losses in the Parent Company as a result of financial expenses on its indebtedness, since it substantially holds all the loans and financing of the CSN Group. However, the Parent Company reported taxable income in two quarters of 2020.
| Exchange variation expenses | Since 2012, the Company has opted for taxing exchange rate variations on a cash basis. As a result, taxes are due and expenses are deductible when the underlying asset or liability is settled.
Differences Temporary | Loss on investment in Usiminas shares | Changes in investment in Usiminas shares are recognized on an accrual basis; however, the event that generates taxation or deductibility will only occur when the investment is sold.
| Other provisions | Other provisions are recognized on an accrual basis and their taxation occurs only at the time of their realization, such as: provision for contingencies, loss for impairment, provision for environmental liabilities, etc.

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