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INCOME TAX AND SOCIAL CONTRIBUTION (Tables) | 12 Months Ended
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Dec. 31, 2023
Income Tax And Social Contribution |
Schedule of income tax and social contribution income expense |
Schedule of income tax and social contribution income expense |  |  |  |  |
|  |  |  |  | Consolidated
| 12/31/2023 |  | 12/31/2022 |  | 12/31/2021
Income tax and social contribution income (expense) |  |  |  |  |
Current | (1,036,262) |  | (1,537,966) |  | (4,240,802)
Deferred | 403,544 |  | (420,773) |  | (759,355)
Total | (632,718) |  | (1,958,739) |  | (5,000,157)
Schedule of reconciliation of the Company's income tax and social contribution expenses |
Schedule of reconciliation of the Company's income tax and social contribution expenses |  |  |  |  |
|  |  |  |  | Consolidated
| 12/31/2023 |  | 12/31/2022 |  | 12/31/2021
Profit/(Loss) before income tax and social contribution | 1,035,367 |  | 4,126,437 |  | 18,595,778
Tax rate | 34% |  | 34% |  | 34%
Income tax and social contribution at combined statutory rate | (352,025) |  | (1,402,989) |  | (6,322,565)
Adjustment to reflect the effective rate: |  |  |  |  |
Equity in results of affiliated companies | 178,978 |  | 155,125 |  | 71,833
Difference Tax Rate in companies abroad | (181,409) |  | (338,278) |  | (437,567)
Transfer Price Adjustment and Profits Abroad | (91,883) |  | (195,112) |  | (55,821)
Income taxes and social contribution on foreign profit | 131,836 |  |  |  |
Tax incentives | 71,756 |  | 50,333 |  | 273,040
Interest on equity | 47,315 |  | 290,968 |  | 185,325
Recognition/(reversal) of tax credits | (337,239) |  | (562,014) |  | 1,027,252
Other permanent deductions (additions) | (100,047) |  | 43,228 |  | 258,346
Income tax and social contribution in net income for the year | (632,718) |  | (1,958,739) |  | (5,000,157)
Effective tax rate | 61% |  | 47% |  | 27%
Schedule of deferred income tax and social contribution |
Schedule of deferred income tax and social contribution |  |  |  |  |  |
|  |  |  |  |  | Consolidated
|  | 12/31/2023 |  | 12/31/2022 |  | 12/31/2021
Deferred |  |  |  |  |  |
Income tax losses |  | 4,198,734 |  | 2,679,028 |  | 1,537,623
Social contribution tax losses |  | 1,441,925 |  | 894,183 |  | 583,845
Temporary differences |  | (911,027) |  | 1,305,557 |  | 2,447,543
Tax, social security, labor, civil and environmental provisions |  | 550,567 |  | 584,834 |  | 265,328
Estimated losses on assets |  | 238,211 |  | 369,826 |  | 283,266
Gains/(Losses) on financial assets |  | 328,678 |  | 468,813 |  | 6,484
Actuarial Liabilities (Pension and Health Plan) |  | 171,816 |  | 226,875 |  | 210,009
Provision for consumption and services |  | 22,346 |  | 205,880 |  | 163,620
Cash Flow Hedge Accounting and Unrealized Exchange Variations |  | 509,386 |  | 1,459,012 |  | 2,985,859
(Gain) on loss of control of Transnordestina |  | (224,096) |  | (224,096) |  | (92,180)
Fair Value SWT/CBL Acquisition |  | (149,489) |  | (149,489) |  | (178,160)
Business combination |  | (1,473,119) |  | (1,632,370) |  | (1,338,674)
Others |  | (885,327) |  | (3,728) |  | 141,991
Total |  | 4,729,632 |  | 4,878,768 |  | 4,569,011
Total Deferred Assets |  | 5,991,213 |  | 5,095,718 |  | 5,072,092
Total Deferred Liabilities |  | (1,261,581) |  | (216,950) |  | (503,081)
Total Deferred |  | 4,729,632 |  | 4,878,768 |  | 4,569,011
Schedule of estimated recovery of deferred tax assets |
Schedule of estimated recovery of deferred tax assets |  |
|  | Consolidated
2024 |  | 782,640
2025 |  | 760,047
2026 |  | 492,913
2027 |  | 476,082
2028 and beyond |  | 3,479,531
Deferred asset |  | 5,991,213
Deferred liabilities - Parent Company |  | (957,579)
Net deferred asset |  | 5,033,634
Deferred liabilities - subsidiaries |  | (304,002)
Net deferred asset |  | 4,729,632
Schedule of changes in deferred tax and social contribution |
Schedule of changes in deferred tax and social contribution |  |
|  | Consolidated
Balance at December 31, 2020 |  | 3,256,110
Recognized in the result |  | (759,355)
Recognized in other comprehensive income |  | 2,073,437
Acquisition of companies |  | (1,181)
Balance at December 31, 2021 |  | 4,569,011
Recognized in the result |  | (420,773)
Recognized in other comprehensive income |  | (322,876)
Acquisition of companies |  | 1,053,406
Balance at December 31, 2022 |  | 4,878,768
Recognized in the result |  | 403,544
Recognized in other comprehensive income |  | (559,050)
Use of tax credit in installment program |  | (445)
Reverse incorporation |  | 6,815
Balance at December 31, 2023 |  | 4,729,632
Schedule of income tax and social contribution recognized in equity |
Schedule of income tax and social contribution recognized in equity |  |  |
|  |  | Consolidated
| 12/31/2023 |  | 12/31/2022
Income tax and social contribution |  |  |
Actuarial gains on defined benefit pension plan | 83,436 |  | 100,139
Exchange differences on translating foreign operations | (325,350) |  | (325,350)
Cash flow hedge accounting | 1,030,432 |  | 1,571,953
| 788,518 |  | 1,346,742

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