ARA » Topics » (e) IRPJ - Deductibility of Social Contribution on Net Income (CSLL)

This excerpt taken from the ARA 6-K filed Jul 18, 2008.

(e) IRPJ – Deductibility of Social Contribution on Net Income (CSLL)

Page: 30


FEDERAL PUBLIC SERVICE
CVM - SECURITIES COMMISSION QUARTERLY INFORMATION - ITR
COMMERCIAL, INDUSTRIAL & OTHERS TYPES OF BUSINESS

Corporate Legislation
Period - 06/30/2008


01.01 - IDENTIFICATION        
01 - CVM Code   02 - Name of Society   03 - Taxpayer Nº
00043-4   Aracruz Celulose S.A.   42.157.511/0001-61

04.01 – NOTES TO THE CONSOLIDATED QUARERLY FINANCIAL INFORMATION

On June 29, 2005, the Company was assessed relating to deductibility of CSLL from taxable income for IRPJ purposes for fiscal years 2000 and 2001, the existing provision for which was supplemented by the amount of R$ 3.6 million, bringing the total to R$ 38 million.

In July 2005, in view of the existing case law development, Aracruz decided to pay over the assessed amount, although it recalculated the basis for calculation thereof, arriving at the amount of R$ 24.4 million. The Company filed an administrative challenge to the balance of the amount assessed, and the assessment was upheld at the first administrative level. The Company has appealed this decision and is awaiting judgment. In addition, it has maintained the lawsuit questioning the alleged non-deductibility.

This excerpt taken from the ARA 6-K filed Apr 25, 2007.

(e)       IRPJ - Deductibility of Social Contribution on Net Income (CSLL)

 

On June 29, 2005, the Company was assessed relating to deductibility of CSLL from taxable income for IRPJ purposes for fiscal years 2000 and 2001, the existing provision for which was supplemented by the amount of R$ 3.6 million, bringing the total to R$ 38 million.

 

In July 2005, in view of the existing case law, the Company decided to pay over the assessed amount, although it recalculated the basis for calculation thereof, arriving at the amount of R$ 24.4 million.  The Company filed an administrative challenge to the balance of the amount assessed, such that the requirement to pay the tax credit has been suspended and, in addition, it has maintained the lawsuit questioning the cited deductibility.

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This excerpt taken from the ARA 6-K filed Apr 24, 2006.

(e)           IRPJ – Deductibility of Social Contribution on Net Income (CSLL)

 

On June 29, 2005, the Parent Company was assessed relating to deductibility of CSLL from taxable income for IRPJ purposes for fiscal years 2000 and 2001, the existing provision for which was supplemented by the amount of R$ 3.6 million, bringing the total to R$ 38 million.

 

In July 2005, in view of case law development (jurisprudence), the Company decided to appeal the assessment, although it recalculated the basis for calculation thereof, arriving at the amount of R$ 24.4 million. The Company has maintained the lawsuit, in which the suspension of the demand for the tax credit has not yet been granted to it.

 

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