(a) Deferred income tax and social contribution:
|
|
| Tax losses |
|
| Tax credit |
|
| Technological |
|
| Other |
|
| Other |
|
| Total |
| ||||||
| Deferred tax |
|
|
|
|
|
| ||||||||||||||||||
| At December 31, 2015 |
|
| 3,363 |
|
|
| - |
|
|
| (6,257 | ) |
|
| 3,363 |
|
|
| - |
|
|
| 469 |
|
| Included in the statement of income |
|
| (2,312 | ) |
|
| - |
|
|
| (18,121 | ) |
|
| 284 |
|
|
| - |
|
|
| (20,149 | ) |
| Taken directly to equity |
|
| - |
|
|
| 3,606 |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| 3,606 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| At December 31, 2016 |
|
| 1,051 |
|
|
| 3,606 |
|
|
| (24,378 | ) |
|
| 3,647 |
|
|
| - |
|
|
| (16,074 | ) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Included in the statement of income |
|
| 436 |
|
|
| (721 | ) |
|
| (16,814 | ) |
|
| 28,995 |
|
|
| (1,616 | ) |
|
| 10,278 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| At December 31, 2017 |
|
| 1,487 |
|
|
| 2,885 |
|
|
| (41,192 | ) |
|
| 32,642 |
|
|
| (1,616 | ) |
|
| (5,794 | ) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
(i) The main temporary differences representing the balance of the deferred tax liability refers to the benefit granted by the Technological Innovation Law (Lei do Bem), which reduces the tax charges on the capitalized amount of property and equipment.
Deferred tax assets are recognized for tax loss carry-forwards to the extent that the realization of the related tax benefit through future taxable profits is probable. Tax losses do not have expiration date.
The estimated realization of deferred tax assets in non-current assets and liabilities is as follows:
|
|
| December 31, |
| |||||||||||||
|
|
| 2017 |
|
| 2016 |
| ||||||||||
|
|
| Asset |
|
| Liability |
|
| Asset |
|
| Liability |
| ||||
| 2017 |
|
| - |
|
|
| - |
|
|
| 940 |
|
|
| (8,126 | ) |
| 2018 |
|
| 8,895 |
|
|
| (20,728 | ) |
|
| 940 |
|
|
| (8,126 | ) |
| 2019 |
|
| 4,040 |
|
|
| (18,008 | ) |
|
| 940 |
|
|
| (8,126 | ) |
| 2020 |
|
| 2,111 |
|
|
| (2,454 | ) |
|
| 940 |
|
|
| - |
|
| 2021 |
|
| 982 |
|
|
| (1,434 | ) |
|
| 4,545 |
|
|
| - |
|
| 2022 |
|
| 20,987 |
|
|
| (185 | ) |
|
| - |
|
|
| - |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
| 37,015 |
|
|
| (42,809 | ) |
|
| 8,305 |
|
|
| (24,378 | ) | |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
(b) Reconciliation of the income tax and social contribution expense
PagSeguro Group computed income tax and social contribution under the taxable income method. The following is a reconciliation of the difference between the actual income tax and social contribution expense and the expense computed by applying the federal statutory rate for the years ended December 31, 2017, 2016 and 2015:
|
|
| December, 31 |
| |||||||||
|
|
| 2017 |
|
| 2016 |
|
| 2015 |
| |||
| Profit for the period before taxes |
|
| 683,504 |
|
|
| 155,359 |
|
|
| 40,315 |
|
| Statutory rate |
|
| 34% |
|
|
| 34% |
|
|
| 34% |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Expected income tax and social contribution |
|
| (232,391 | ) |
|
| (52,822 | ) |
|
| (13,707 | ) |
| Income tax and social contribution effect on: |
|
|
| |||||||||
| Permanent additions (exclusions) |
|
|
| |||||||||
| Participation in the results of partners and managers |
|
| (314 | ) |
|
| - |
|
|
| (234 | ) |
| Gifts |
|
| (375 | ) |
|
| - |
|
|
| (149 | ) |
| R&D and technological innovation benefit - Law 11.196/05(i) |
|
| 24,987 |
|
|
| 15,898 |
|
|
| 11,596 |
|
|
|
|
| ||||||||||
| Interest on own capital |
|
| - |
|
|
| 8,860 |
|
|
| - |
|
| Tax Incentives - Law Rounet Art. 18 |
|
| 1,981 |
|
|
| - |
|
|
| - |
|
| Other additions |
|
| 1,402 |
|
|
| 485 |
|
|
| (2,333 | ) |
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Income tax and social contribution expense |
|
| (204,711 | ) |
|
| (27,580 | ) |
|
| (4,826 | ) |
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Income tax and social contribution - current |
|
| (214,988 | ) |
|
| (7,431 | ) |
|
| (2,587 | ) |
| Income tax and social contribution - deferred |
|
| 10,278 |
|
|
| (20,149 | ) |
|
| (2,239 | ) |
(i) Refers to the benefit granted by the Technological Innovation Law (Lei do Bem), which reduces the income tax charges, based on the amount invested by PagSeguro Group on some specific property and equipment.