date:Feb 25, 2013
n the final quarter to 82%, versus 40.3% the year before.
This reflects mainly a more conservative approach toward the expected recovery of previous fiscal losses in Brazil, in accordance with International Financial Reporting Standards, the company said. This new approach suggests that the amortization of previously registered losses may take longer than initially expected. To reflect the aforementioned, a tax charge was registered during the period to partially cancel deferred income tax bene