Circular No. 2266 — Establishes Procedures for Publication of Financial Statements and Classification of Monetary Variation Expense on Taxes and Contributions

CIRCULAR NO. 002266

ESTABLISHES PROCEDURES FOR PUBLICATION OF FINANCIAL STATEMENTS AND CLASSIFICATION OF EXPENSE OF MONETARY VARIATION ON TAXES AND CONTRIBUTIONS.

WE COMMUNICATE THAT THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BRAZIL, IN A SESSION HELD ON 01/20/93, BASED ON ART. 4, PARAGRAPH XII, OF LAW NO. 4,595, OF 12/31/64, BY COMPETENCE DELEGATED BY THE MONETARY COUNCIL, DECIDED:

ART. 1. ADMIT THAT, IN THE PUBLICATION OF THE FINANCIAL STATEMENTS OF THE BASE DATE 12/31/92, THE CORRESPONDING VALUES, COMPARED WITH THOSE OF 12/31/91, SHALL BE EXPRESSED IN MILLIONS OF CRUZEIROS.

ART. 2. THE EXPENSE OF MONETARY VARIATION ON INCOME TAX, ADDITIONAL STATE INCOME TAX, AND SOCIAL CONTRIBUTION, TO BE COLLECTED, MUST BE RECORDED IN OTHER OPERATIONAL EXPENSES, WITH SEGREGATION IN A SUBTITLE FOR INTERNAL USE.

ART. 3. THE SUBMISSION TO THIS AGENCY OF THE DOCUMENTS STATEMENT OF THE SEMESTER RESULT AND CONSOLIDATED STATEMENT OF THE SEMESTER RESULT, PRESCRIBED IN THE CATALOG OF DOCUMENTS - CADOC, IS WAIVED.

ART. 4. THE ADOPTION OF THE PROCEDURES PROVIDED FOR IN THIS CIRCULAR RELATING TO THE FINANCIAL STATEMENTS OF THE BASE DATE 12/31/92 IS PERMITTED.

ART. 5. THIS CIRCULAR ENTERS INTO FORCE ON THE DATE OF ITS PUBLICATION.

ART. 6. ARTS. 2 AND 3 OF CIRCULAR NO. 2,224, OF 09/03/92, ARE REVOKED.

BRASÍLIA (DF), JANUARY 20, 1993

GUSTAVO JORGE LABOISSIÈRE LOYOLA
PRESIDENT