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CURRENT AND DEFERRED TAXES (Tables) | 12 Months Ended
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Dec. 31, 2022
Disclosure Of Income Tax Text Block Abstract |
Schedule of composition of current tax assets |
|  | Current assets |  |  | Non-current assets |  |  | Total assets |
|  | As of |  |  | As of |  |  | As of |  |  | As of |  |  | As of |  |  | As of |
|  | December 31, |  |  | December 31, |  |  | December 31, |  |  | December 31, |  |  | December 31, |  |  | December 31, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Provisional monthly payments (advances) |  |  | 18,559 |  |  |  | 32,086 |  |  |  | - |  |  |  | - |  |  |  | 18,559 |  |  |  | 32,086 |
Other recoverable credits |  |  | 14,474 |  |  |  | 9,178 |  |  |  | - |  |  |  | - |  |  |  | 14,474 |  |  |  | 9,178 |
Total current tax assets |  |  | 33,033 |  |  |  | 41,264 |  |  |  | - |  |  |  | - |  |  |  | 33,033 |  |  |  | 41,264 |
Schedule of composition of current tax liabilities |
|  | Current liabilities |  |  | Non-current liabilities |  |  | Total liabilities |
|  | As of |  |  | As of |  |  | As of |  |  | As of |  |  | As of |  |  | As of |
|  | December 31, |  |  | December 31, |  |  | December 31, |  |  | December 31, |  |  | December 31, |  |  | December 31, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Income tax provision |  |  | 1,026 |  |  |  | 675 |  |  |  | - |  |  |  | - |  |  |  | 1,026 |  |  |  | 675 |
Total current tax liabilities |  |  | 1,026 |  |  |  | 675 |  |  |  | - |  |  |  | - |  |  |  | 1,026 |  |  |  | 675 |
Schedule of balances of deferred tax |
|  | Assets |  |  | Liabilities |
|  | As of |  |  | As of |  |  | As of |  |  | As of |
|  | December 31, |  |  | December 31, |  |  | December 31, |  |  | December 31, |
Concept |  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Properties, Plants and equipment |  |  | (1,006,814 | ) |  |  | (1,128,225 | ) |  |  | 81,326 |  |  |  | 80,468 |
Assets by right of use |  |  | 249,462 |  |  |  | 715,440 |  |  |  | (45 | ) |  |  | (68 | )
Amortization |  |  | (88,172 | ) |  |  | (44,605 | ) |  |  | 10 |  |  |  | 10 |
Provisions |  |  | (20,563 | ) |  |  | 111,468 |  |  |  | 69,519 |  |  |  | 74,047 |
Revaluation of financial instruments |  |  | 2,438 |  |  |  | (16,575 | ) |  |  | - |  |  |  | - |
Tax losses |  |  | 852,654 |  |  |  | 358,284 |  |  |  | (94,005 | ) |  |  | (87,378 | )
Intangibles |  |  | - |  |  |  | - |  |  |  | 270,512 |  |  |  | 254,155 |
Other |  |  | 16,910 |  |  |  | 19,503 |  |  |  | 17,308 |  |  |  | 19,777 |
Total |  |  | 5,915 |  |  |  | 15,290 |  |  |  | 344,625 |  |  |  | 341,011 |
Schedule of movements of deferred tax assets and liabilities |
|  | Opening balance Assets/(liabilities) |  |  | Recognized in consolidated income |  |  | Recognized in comprehensive income |  |  | Exchange rate variation |  |  | Ending balance Asset (liability) |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Property, plant and equipment |  |  | (1,513,904 | ) |  |  | 110,010 |  |  |  | - |  |  |  | 7,557 |  |  |  | (1,396,337 | )
Assets for right of use |  |  | 133,481 |  |  |  | 95,774 |  |  |  | - |  |  |  | - |  |  |  | 229,255 |
Amortization |  |  | (53,136 | ) |  |  | (14,142 | ) |  |  | - |  |  |  | 2,130 |  |  |  | (65,148 | )
Provisions |  |  | 43,567 |  |  |  | 158,178 |  |  |  | 924 |  |  |  | (58,639 | ) |  |  | 144,030 |
Revaluation of financial instruments |  |  | 10,279 |  |  |  | (27,901 | ) |  |  | 959 |  |  |  | (1,470 | ) |  |  | (18,133 | )
Tax losses (*) |  |  | 1,356,268 |  |  |  | 216,897 |  |  |  | - |  |  |  | (15,428 | ) |  |  | 1,557,737 |
Intangibles |  |  | (349,082 | ) |  |  | 1,030 |  |  |  | - |  |  |  | 77,371 |  |  |  | (270,681 | )
Others |  |  | (8,693 | ) |  |  | 6,541 |  |  |  | - |  |  |  | 1,965 |  |  |  | (187 | )
Total |  |  | (381,220 | ) |  |  | 546,387 |  |  |  | 1,883 |  |  |  | 13,486 |  |  |  | 180,536 |
|  | Opening |  |  | Recognized in |  |  | Recognized in |  |  | Exchange |  |  | Ending |
|  | balance |  |  | consolidated |  |  | comprehensive |  |  | rate |  |  | balance |
|  | Assets/(liabilities) |  |  | income |  |  | income |  |  | variation |  |  | Asset (liability) |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Property, plant and equipment |  |  | (1,396,337 | ) |  |  | 187,644 |  |  |  | - |  |  |  | - |  |  |  | (1,208,693 | )
Assets for right of use |  |  | 229,255 |  |  |  | 486,253 |  |  |  | - |  |  |  | - |  |  |  | 715,508 |
Amortization |  |  | (65,148 | ) |  |  | 20,533 |  |  |  | - |  |  |  | - |  |  |  | (44,615 | )
Provisions |  |  | 144,030 |  |  |  | (103,826 | ) |  |  | (2,783 | ) |  |  | - |  |  |  | 37,421 |
Revaluation of financial instruments |  |  | (18,133 | ) |  |  | 1,616 |  |  |  | (58 | ) |  |  | - |  |  |  | (16,575 | )
Tax losses (*) |  |  | 1,557,737 |  |  |  | (1,112,075 | ) |  |  | - |  |  |  | - |  |  |  | 445,662 |
Intangibles |  |  | (270,681 | ) |  |  | (1,394 | ) |  |  | - |  |  |  | 17,920 |  |  |  | (254,155 | )
Others |  |  | (187 | ) |  |  | (87 | ) |  |  | - |  |  |  | - |  |  |  | (274 | )
Total |  |  | 180,536 |  |  |  | (521,336 | ) |  |  | (2,841 | ) |  |  | 17,920 |  |  |  | (325,721 | )
|  | Opening |  |  | Recognized in |  |  | Recognized in |  |  | Exchange |  |  | Ending |
|  | balance |  |  | consolidated |  |  | comprehensive |  |  | rate |  |  | balance |
|  | Assets/(liabilities) |  |  | income |  |  | income |  |  | variation |  |  | Asset (liability) |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Property, plant and equipment |  |  | (1,208,693 | ) |  |  | 120,553 |  |  |  | - |  |  |  | - |  |  |  | (1,088,140 | )
Assets for right of use |  |  | 715,508 |  |  |  | (466,001 | ) |  |  | - |  |  |  | - |  |  |  | 249,507 |
Amortization |  |  | (44,615 | ) |  |  | (43,567 | ) |  |  | - |  |  |  | - |  |  |  | (88,182 | )
Provisions |  |  | 37,421 |  |  |  | (128,070 | ) |  |  | 567 |  |  |  | - |  |  |  | (90,082 | )
Revaluation of financial instruments |  |  | (16,575 | ) |  |  | 19,248 |  |  |  | (235 | ) |  |  | - |  |  |  | 2,438 |
Tax losses (*) |  |  | 445,662 |  |  |  | 500,997 |  |  |  | - |  |  |  | - |  |  |  | 946,659 |
Intangibles |  |  | (254,155 | ) |  |  | 2,114 |  |  |  | - |  |  |  | (18,471 | ) |  |  | (270,512 | )
Others |  |  | (274 | ) |  |  | (124 | ) |  |  | - |  |  |  | - |  |  |  | (398 | )
Total |  |  | (325,721 | ) |  |  | 5,150 |  |  |  | 332 |  |  |  | (18,471 | ) |  |  | (338,710 | )
(*) | As stated in note 2c), on November 26th, 2021 the Company filed a Reorganization Plan and Disclosure Statement in which, among other items, financial forecasts were included together with the proposed issuance of new shares and convertible notes. With that information the Company´s management updated its analysis on the recoverability of deferred tax assets and determined that during the time covered by the financial forecast it will not be probable that part of such deferred tax assets may be offset by future taxable profits. Therefore, the Company during the fourth quarter of 2021 derecognized deferred tax assets not considered recoverable in the amount of ThUS$1,251,912. On the other hand, on December 31, 2022 the Company management of subsidiary Lan Cargo S.A determined that considering financial forecast it will not be probable that part of the deferred tax assets may be offset with future taxable profits. Therefore, the Company derecognized deferred tax assets not considered recoverable in the amount of ThUS$6,173.
Schedule of deferred tax expense and current income taxes |
|  | For the year ended December 31, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Income tax (expense)/benefit |  |  |  |  |  |  |  |  |
Current tax (expense) benefit |  |  | (14,064 | ) |  |  | (47,139 | ) |  |  | 3,602 |
Adjustments to the current tax of the previous year |  |  | - |  |  |  | (460 | ) |  |  | 199 |
Total current tax (expense) benefit |  |  | (14,064 | ) |  |  | (47,599 | ) |  |  | 3,801 |
(Expense)/benefit from deferred income taxes |  |  |  |  |  |  |  |  |  |  |  |
Deferred (expense) benefit for taxes related to the creation and reversal of temporary differences |  |  | 5,150 |  |  |  | (521,336 | ) |  |  | 546,387 |
Total deferred tax (expense)benefit |  |  | 5,150 |  |  |  | (521,336 | ) |  |  | 546,387 |
Income tax (expense)/benefit |  |  | (8,914 | ) |  |  | (568,935 | ) |  |  | 550,188 |
Schedule of income tax (expense)/benefit |
|  | For the year ended December 31, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Current tax (expense) benefit, foreign |  |  | 19,573 |  |  |  | (9,943 | ) |  |  | (4,232 | )
Current tax (expense) benefit, domestic |  |  | (33,637 | ) |  |  | (37,656 | ) |  |  | 8,033 |
Total current tax (expense) benefit |  |  | (14,064 | ) |  |  | (47,599 | ) |  |  | 3,801 |
Deferred tax (expense) benefit, foreign |  |  | (532 | ) |  |  | 4,309 |  |  |  | (235,963 | )
Deferred tax (expense) benefit, domestic |  |  | 5,682 |  |  |  | (525,645 | ) |  |  | 782,350 |
Total deferred tax (expense)benefit |  |  | 5,150 |  |  |  | (521,336 | ) |  |  | 546,387 |
Income tax (expense)/benefit |  |  | (8,914 | ) |  |  | (568,935 | ) |  |  | 550,188 |
Schedule of income before tax from the chilean legal tax rate |
|  | For the year ended |  |  | For the year ended |
|  | December 31, |  |  | December 31, |
|  | 2022 |  |  | 2021 |  |  | 2020 |  |  | 2022 |  |  | 2021 |  |  | 2020 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | % |  |  | % |  |  | % |
Income tax benefit/(expense) using the legal tax rate |  |  | (363,434 | ) |  |  | 1,102,736 |  |  |  | 1,378,547 |  |  |  | (27.00 | ) |  |  | (27.00 | ) |  |  | (27.00 | )
Tax effect by change in tax rate |  |  | 9,016 |  |  |  | - |  |  |  | - |  |  |  | 0.67 |  |  |  | - |  |  |  | - |
Tax effect of rates in other jurisdictions |  |  | 20,398 |  |  |  | 54,775 |  |  |  | 58,268 |  |  |  | 1.52 |  |  |  | (1.34 | ) |  |  | (1.14 | )
Tax effect of non-taxable income (*) |  |  | 1,201,618 |  |  |  | 9,444 |  |  |  | 19,529 |  |  |  | 89.27 |  |  |  | (0.23 | ) |  |  | (0.38 | )
Tax effect of disallowable expenses |  |  | (33,855 | ) |  |  | (30,928 | ) |  |  | (40,528 | ) |  |  | (2.52 | ) |  |  | 0.76 |  |  |  | 0.79 |
Other increases (decreases): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derecognition of deferred tax liabilities for early termination of aircraft financing |  |  | 90,823 |  |  |  | 205,458 |  |  |  | 294,969 |  |  |  | 6.75 |  |  |  | (5.03 | ) |  |  | (5.78 | )
Tax effect for goodwill impairment losses |  |  | - |  |  |  | - |  |  |  | (453,681 | ) |  |  | - |  |  |  | - |  |  |  | 8.89 |
Derecognition of deferred tax assets not recoverable |  |  | (6,173 | ) |  |  | (1,251,912 | ) |  |  | (237,637 | ) |  |  | (0.46 | ) |  |  | 30.65 |  |  |  | 4.65 |
Deferred tax asset not recognized |  |  | (990,095 | ) |  |  | (667,702 | ) |  |  | (414,741 | ) |  |  | (73.56 | ) |  |  | 16.35 |  |  |  | 8.12 |
Other increases (decreases) |  |  | 62,788 |  |  |  | 9,194 |  |  |  | (54,538 | ) |  |  | 4.66 |  |  |  | (0.23 | ) |  |  | 1.07 |
Total adjustments to tax expense using the legal rate |  |  | 354,520 |  |  |  | (1,671,671 | ) |  |  | (828,359 | ) |  |  | 26.33 |  |  |  | 40.93 |  |  |  | 16.22 |
Income tax benefit/(expense) using the effective rate |  |  | (8,914 | ) |  |  | (568,935 | ) |  |  | 550,188 |  |  |  | (0.67 | ) |  |  | 13.93 |  |  |  | (10.78 | )
(*) | As of December 31, 2022, this amount mainly includes ThUS$974,826 and ThUS$218,775 related to amounts resulting from the gain resulting from the de-recognition of financial liabilities as a result of emergence from Chapter 11, and the equity issuance cost which is not taxable respectively.
Schedule of deferred taxes related to items charged to equity |
|  | For the year ended |
|  | December 31, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Aggregate deferred taxation of components of other comprehensive income |  |  | 332 |  |  |  | (2,841 | ) |  |  | 1,883 |

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