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CONSOLIDATED FINANCIAL STATEMENTS
an unconditional right to defer the liquidation
of the liability for at least 12 months after the
consolidated statement of financial position
date.
2.14. Deferred taxes
Deferred taxes are recognised overall, using
the liability method and calculated based on the
temporary differences arising from the difference
between the taxable base of assets and liabilities and
their values in the consolidated financial statements.
However, if the deferred cost arises from the initial
recognition of an asset or liability in a transaction
that is not a corporate concentration or that, on
the transaction date, does not affect the accounting
result or the tax result, this amount is not accounted.
Deferred taxes are determined by the tax (and legal)
rates decreed or substantially decreed on the date of
the consolidated statement of financial position and
that can be expected to be applicable in the period
of the deferred tax asset or in the liquidation of the
deferred tax liability.
Deferred tax assets are recognised insofar as it will be
probable that future taxable income will be available
for using the respective temporary difference.
2.15. Provisions
Provisions for costs of restructuring activities, paid
contracts and legal claims are recognised when the
group has a legal or constructive obligation due to
past events and when it is probable that a outflow
of resources will be necessary to liquidate the
obligation, and when the obligation amount may
be reliably estimated. Provisions for restructuring
operations include penalties for terminating
leasing contracts and indemnity payments for
terminating employee work contracts. Provisions
are not recognised for future operating losses.
When there are a similar number of obligations,
the probability of generating an outflow is
determined by combining these obligations.
2.16. Recognising revenue
Revenue comprises the fair value of the sale of
goods and rendering of services, net of taxes and
discounts and after eliminating internal sales.
Revenue is recognised as follows:
a) Sale of goods - retail
The sale of goods is recognised when the product
is sold to the customer. Retail sales are normally
made in cash or through debit/credit cards. The
revenue to be recognised is the gross sale amount,
including debit/credit card transaction fees. Sales
of goods to customers, associated to events or
congresses, are recognised when they occur.