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1.- In 2016, Sigma Alimentos deferred the payment of a US $ 60mn tax. Tax...

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Accounting

1.- In 2016, Sigma Alimentos deferred the payment of a US $ 60mn tax. Tax authorities They determined that the payment must be made this 2021 in the month of April.

Sigma had created a provision for P $ 1.2bn to pay the tax. Due to the exchange rate depreciation, Sigma decided to increase the provision to reflect exchange rates current. Assuming an exchange rate of P $ 24 / USD, records in accounting entries the increase in provision.

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