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ICMS |
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ICMS enabled the accounting department to prepare and mail out more than 50,000 quarterly and year-end statements to members and visitors who contributed to West Angeles in 1994. We also accounted for another liability on our balance sheet in the amount of R$737,000 for an ICMS tax contingency (Brazil's value added state tax). Deferment of the ICMS (sales and services tax) on all importations of fixed assets required for the project. |
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