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CURRENT AND DEFERRED TAXES (Tables)

12 Months Ended

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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