The International Convergence of the Brazilian Legal and Accounting Standards and the Tax Effects Arisen From the New Accounting Method of the Electricity Sector Concessions
Article from: OGEL 4 (2015), in Taxation
Abstract
The article analyzes the tax effects arising from the international legal and accounting standards convergence that impacted the concessionaires in the Brazilian electric energy sector, more specifically the tax impacts from the adoption of Technical Interpretation ICPC 01 - Concession Agreements, which corresponds to the international accounting standards denominated IFRIC 12 - Service Concession Arrangements. In summary, the ICPC 01 changed the accounting method of the assets related to the public service concession, which assets were no longer classified as fixed ...