The acquisition cost of fixed assets must consider the effect that tax credits have on market cost.
ICMS: TAX ON CIRCULATION OF GOODS AND SERVICES
ICMS is a tax whose value is on the basis of the cost of the goods if this tax is due on the operation.Using a purchase with an ICMS credit option reduces the amount of tax that is in the base from the cost basis of the goods.
Example 01:Value of goods: BRL 1,000.00Operation with ICMS: YesICMS Tax Rate: 18%Operation with ICMS credit: NoAcquisition cost: BRL 1,000.00Effect: none
Example 02:Value of goods: BRL 1,000.00Operation with ICMS: YesICMS Tax Rate: 18%Operation with ICMS credit: YesAcquisition cost: BRL 820.00Effect: The ICMS credit in the value of BRL 180.00 is deducted from the cost.
IPI: TAX ON INDUSTRIALIZED PRODUCTS
The IPI is a tax whose value is not in the cost base of the goods if this tax is due in the operation.Using a purchase with the IPI credit option reduces the cost basis of the goods by the amount of the tax that is added to the cost basis when it exists in the transaction, eliminating the effect of the tax on the transaction.
Example 01:Value of goods: BRL 1,000.00Operation with IPI: YesIPI Tax Rate: 5%Operation with IPI credit: NoAcquisition cost: BRL 1050.00Effect: The IPI value is added to the cost of the goods because it does not make up the cost base.
Example 02:Value of goods: BRL 1,000.00Operation with IPI: YesIPI Tax Rate: 5%Operation with IPI credit: YesAcquisition cost: BRL 1000.00Effect: The IPI value has no effect on the cost of the goods, as if it were added up and then taken away as a result of the credit.
TAX COMBINATION AND ITS EFFECT ON THE ACQUISITION COST
To assess how each tax influences the cost of goods, the value must be calculated by evaluating the original basis before the levy of the tax to be evaluated, and before the levy of the effects of other taxes.
Example 01:Value of goods: BRL 1,000.00Operation with ICMS: NoOperation with IPI: NoICMS Tax Rate: 18%IPI Tax Rate: 5%Operation with ICMS credit: NoOperation with IPI credit: NoAcquisition cost: BRL 1000.00Effect: As the operation does not have taxes, they do not influence the acquisition cost values.
Example 02:Value of goods: BRL 1,000.00Operation with ICMS: YesOperation with IPI: YesICMS Tax Rate: 18%IPI Tax Rate: 5%Operation with ICMS credit: NoOperation with IPI credit: NoAcquisition cost: BRL 1050.00Effect 01 – ICMS: Since the operation calculates ICMS but does not have the tax credit, there is no change in cost (BRL 0.00)Effect 02 - IPI: Since the operation calculates IPI, but does not have the tax credit, there is the addition of the IPI value to the cost (+ BRL 50.00)Result: BRL 1000.00 +/- BRL 0.00 + BRL 50.00 = BRL 1050.00
Example 03:Value of goods: BRL 1,000.00Operation with ICMS: YesOperation with IPI: YesICMS Tax Rate: 18%IPI Tax Rate: 5%Operation with ICMS credit: YesOperation with IPI credit: NoAcquisition cost: BRL 870.00Effect 01 – ICMS: Since the operation calculates ICMS, but has the tax credit, there is a reduction of the ICMS value in the cost ( BRL 180.00)Effect 02 - IPI: Since the operation calculates IPI, but does not have the tax credit, there is the addition of the IPI value to the cost (+ BRL 50.00)Result: BRL 1000.00 +/ BRL 180.00 + BRL 50.00 = BRL 870.00
Example 04:Value of goods: BRL 1,000.00Operation with ICMS: YesOperation with IPI: YesICMS Tax Rate: 18%IPI Tax Rate: 5%Operation with ICMS credit: YesOperation with IPI credit: YesAcquisition cost: BRL Effect 01 – ICMS: Since the operation calculates ICMS, but has the tax credit, there is a reduction of the ICMS value in the cost ( BRL 180.00)Effect 02 - IPI: Since the operation calculates IPI, but has the tax credit, there is no change in the cost (BRL 0.00)Result: BRL 1000.00 +/ BRL 180.00 + BRL 50.00 = BRL 820.00