Consolidated Financial Statements
2.14 DEFERRED TAXES
Deferred taxes are recognised overall, using
the liability method and calculated based on the
temporary differences arising from the differ-
ence between the taxable base of assets and lia-
bilities and their values in the consolidated finan-
cial 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 liquida-
tion 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 obli-
gation 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 con-
tracts. Provisions are not recognised for future
operating losses.
When there are a similar number of obligations,
the probability of generating an outflow is deter-
mined 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:
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