| Schedule of reconciliation between the weighted nominal tax rate and the effective
tax rate |
|
|
|
| |
2022 |
2021 |
2020 |
| Profit before tax |
14,235.6 |
13,759.2 |
13,494.4 |
| Adjustment on a taxable basis |
|
|
|
| Others non-taxable income |
(883.3) |
(611.0) |
(6.2) |
| Government grants related to sales taxes |
(2,535.1) |
(1,883.1) |
(1,597.8) |
| Share of results of joint ventures |
29.1 |
115.7 |
43.3 |
| Non-deductible expenses |
192.8 |
99.2 |
119.6 |
| Worldwide taxation |
679.3 |
(360.0) |
48.2 |
| |
11,718.4 |
11,120.0 |
12,101.5 |
| Aggregated weighted nominal tax rate |
29.47% |
27.39% |
30.26% |
| Taxes payable – nominal rate |
(3,453.3) |
(3,045.3) |
(3,662.1) |
| Adjustment on tax expense |
|
|
|
| Income tax Incentives |
234.0 |
213.2 |
123.2 |
| Deductible interest on shareholders’ equity |
4,079.9 |
2,516.0 |
2,213.2 |
| Tax savings from goodwill amortization |
27.2 |
77.5 |
77.5 |
| Withholding income tax |
(164.5) |
(876.0) |
(628.2) |
| Recognition/(write-off) of deferred charges on tax losses |
(58.2) |
(1.5) |
123.2 |
| Effect of application of IAS 29 (hyperinflation) |
(249.0) |
(123.3) |
(50.5) |
| Others with reduced taxation |
239.5 |
602.8 |
41.2 |
| Income tax and social contribution expense |
655.6 |
(636.6) |
(1,762.5) |
| Effective tax rate |
-4.61% |
4.63% |
13.06% |