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Accrued Taxes
(redirected from Accrued Tax)

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Accrued Taxes
The taxes assessed on a company, either on its earnings or on the value of its property, but which it has not yet paid. If the company does not pay the accrued taxes in full by the specified date, it may owe interest and penalties. Accrued taxes are listed as a liability on the company's balance sheet.


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Management's decision was based on the very attractive benefits introduced by Executive Order 470 and Federal Law 11,941/2009, which include up to 90% reduction in interest payments and 100% reduction in penalties, as well as the possibility of using accrued tax losses as currency for payment, which in Braskem's case represents an average discount of 70% on the total amount disputed.
In the event that the replacement property is bought at a price less than the net equity of the sales proceeds of the relinquished real estate property, an accrued tax liability is incurred by the one who availed a tax deferral under Exchange 1031.
In 2004, it accrued tax debts of Koruna 641 million the national tax office subsequently wrote off 65%.
 
 
 
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