Annual Report 2005 - Tenaris
Annual Report 2005 - Tenaris
Annual Report 2005 - Tenaris
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Explanatory notes<br />
.<br />
60. <strong>Tenaris</strong>Confab<br />
6. Taxes recoverable<br />
Represented mainly by tax credits and advances, as follows:<br />
CURRENT<br />
Value added tax on goods and services – ICMS<br />
Excise tax – IPI<br />
Income tax – IRPJ<br />
Social contribution on net earnings – CSLL<br />
PIS and COFINS recoverable – non-cumulative<br />
Others<br />
LONG TERM<br />
Social purposes recoverable (Finsocial)<br />
ICMS recoverable on fixed assets<br />
The Company continues to implement its action plan projected<br />
to use tax credits in the short term. Among the main<br />
actions during the years, the following are worthy of note:<br />
Federal taxes (PIS, COFINS and IPI) – used to offset tax<br />
payments on sales and, mainly, income tax and social contributions.<br />
.<br />
<strong>2005</strong><br />
40,876<br />
4,073<br />
3,181<br />
1,363<br />
8,440<br />
2,155<br />
60,088<br />
2,368<br />
3,582<br />
5,950<br />
Parent company Consolidated<br />
2004<br />
60,043<br />
26,330<br />
5,847<br />
3,364<br />
21,227<br />
6,340<br />
123,151<br />
2,368<br />
4,030<br />
6,398<br />
<strong>2005</strong><br />
43,984<br />
6,272<br />
3,352<br />
1,432<br />
8,440<br />
6,281<br />
69,761<br />
2,368<br />
5,712<br />
8,080<br />
2004<br />
61,901<br />
26,690<br />
6,375<br />
3,676<br />
21,240<br />
9,230<br />
129,112<br />
2,368<br />
4,713<br />
7,081<br />
State tax (ICMS) – used to offset the amounts payable for<br />
the ICMS tax on sales and on diverse imports. Also used to<br />
pay suppliers.
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