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to 30% of taxable income in any individual year.
In addition, at December 31, 2000, the Company had recoverable taxes in the total amount of
U.S.$ 126,949, relating mainly to the withholding income tax on financial income (U.S.$
63,974), which can be offset with future income tax payable, and to the value-added tax credits
(U.S.$ 41,056) for which management is studying alternatives of recovery with the Government
of the Espírito Santo State. 21 Aracruz Celulose S.A.
Notes to Consolidated Financial Statements
Expressed in thousands of United States dollars
(unless otherwise stated) 6 Cash and cash equivalents
1,619 312,590 Brazilian reais
United States dollars
Other European currencies 2000 18,091 Cash equivalents in Reais represent principally short-term investments in certificates of deposit
placed with major financial institutions in Brazil. The amount invested in United States dollars at
December 31, 1999 consists of participations in an investment fund whose assets are basically
denominated in U.S. dollar. The amount invested in United States dollars at December 31,
2000 consist primarily of time deposits with prime f...
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This note was uploaded on 02/05/2014 for the course ECON 101 taught by Professor Gottlieb during the Spring '08 term at Rutgers.
- Spring '08