Investor Presentaiton
2021
2020
(b) Breakdown of deferred tax balances
Current
Deferred
IRPJ and CSLL on result
Effective rate - %
(i) During 2021, the subsidiary VCSA and the indirect subsidiary VCNNE recorded in ac-
cordance with accounting standards IAS 12/CPC 32 - Taxes on income and Technical
Interpretation IFRIC 23/ICPC 22 - Uncertainty on treatment of taxes on profit, provi-
sion of credits referring to the non-levy of IRPJ and CSLL on the amounts related to
the SELIC rate received due to the repetition of tax overdue. VCSA clarifies that this
provision refers only to the repetition of the tax overdue of actions that dealt with
the exclusion of ICMS from the PIS and COFINS calculation basis. The decision of the
Extraordinary Appeal (RE) judged by the Supreme Federal Court (STF) on September
24, 2021, has not yet become final and is pending a possible appeal. VCSA and VCNNE
have filed lawsuits on the matter and considered it likely that these would have a fa-
vorable outcome.
(ii) In the third quarter of 2021, with the total liquidation of Votorantim Cement
Corporation Limited, located in Hong Kong, the impairment cost previously recorded
became tax deductible, on which the deferred income tax had not been constituted.
Tax benefit on goodwill
Asset retirement obligation
Foreign exchange
Use of public assets
Provision for profit sharing
(1,801)
(900)
(1,631)
(685)
Tax credits on tax losses
2021
2020
2,437
1,843
(3,432)
(1,585)
33%
-108%
Credit referring to the non-incidence of IRCS on SELIC of
undue payments (i)
252
Tax credits on temporary differences
Estimation for losses on investments, fixed and intangible
assets
1,178
990
Tax, civil and labor provision
475
640
503
503
Deferred of gains on derivative instruments
282
814
181
228
25
318
134
143
PPR
250
197
Estimation for inventory losses
117
118
Environmental liabilities
127
98
Provision for energy charges
67
57
Provision for social security obligations
111
57
Provision for loans
36
67
Financial instruments - firm commitment
19
77
Estimated asset disposals
14
14
Other tax credit
223
236
Tax debts on temporary differences
Adjustment of useful lives of PP&E (depreciation)
(2,976)
(2,472)
Market value assets
(1,896)
(1,728)
Deferred of loss on derivative instruments
(1,122)
(88)
Adjustment to fair value - financial instruments
(358)
(623)
Goodwill amortization
(346)
(343)
Capitalized interest
(126)
(136)
Adjustment to present value
(121)
(151)
Fair value adjustments
(42)
(50)
Hydrological risk renegotiation (ii)
(133)
Other tax debts
Net
Net deferred tax assets related to the same legal entity
(439)
(451)
(1,128)
358
2,696
2,731
Net deferred tax liabilities related to the same legal entity
(3,824)
(2,373)
(i) Refers to credit recognition, as described in Note 23 (a) (i).
168
(ii) Refers to the recognition of the renegotiation of the hydrological risk, according to the
operation described in Note 1.1 (1).
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