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Income Tax (Tables) | 12 Months Ended
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Dec. 31, 2018
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Summary of Calculation of Income Tax Expense Accrued | The calculation of the income tax expense accrued for the years ended December 31, 2018, 2017 and 2016 is as follows:
|  | 2018 |  |  | 2017 |  |  | 2016 |
Current income tax |  |  | (943 | ) |  |  | (605 | ) |  |  | (734 | )
Deferred income tax |  |  | (50,595 | ) |  |  | 4,574 |  |  |  | 2,159 |
|  |  | (51,538 | ) |  |  | 3,969 |  |  |  | 1,425 |
Summary of Reconciliation between the Charge to Net Income for Income Tax and the One that would Result from Applying the Prevailing Tax Rate on Net Income Before Income Tax Arising from the Consolidated Statements of Comprehensive Income | The reconciliation between the charge to net income for income tax for the years ended December 31, 2018, 2017 and 2016 and the one that would result from applying the prevailing tax rate on net income before income tax arising from the consolidated statements of comprehensive income for each year is as follows:
|  | 2018 |  |  | 2017 |  |  | 2016 |
Net income before income tax |  |  | 90,144 |  |  |  | 8,703 |  |  |  | (29,804 | )
Statutory tax rate |  |  | 30 | % |  |  | 35 | % |  |  | 35 | %
Statutory tax rate applied to net income before income tax |  |  | (27,043 | ) |  |  | (3,046 | ) |  |  | 10,431 |
Effect of the valuation of property, plant and equipment and intangible assets measured in functional currency |  |  | (100,760 | ) |  |  | (18,185 | ) |  |  | (19,543 | )
Exchange differences |  |  | 67,767 |  |  |  | 12,318 |  |  |  | 12,237 |
Effect of the valuation of inventories |  |  | (8,666 | ) |  |  | (1,558 | ) |  |  | (1,819 | )
Income on investments in associates and joint ventures |  |  | 1,452 |  |  |  | 500 |  |  |  | 206 |
Effect of tax rate change(1) |  |  | 12,795 |  |  |  | 13,892 |  |  |  | — |
Result of companies’ revaluation |  |  | 3,594 |  |  |  | — |  |  |  | — |
Miscellaneous |  |  | (677 | ) |  |  | 48 |  |  |  | (87 | )
Income tax |  |  | (51,538 | ) |  |  | 3,969 |  |  |  | 1,425 |
(1) | Contemplates the recovery of the deferred income tax decrease. See Notes 2.b.15 and 30.j.
Summary of Breakdown of Deferred Tax | Breakdown of deferred tax as of December 31, 2018, 2017 and 2016 is as follows:
|  | 2018 |  |  | 2017 |  |  | 2016 |
Deferred tax assets |  |  |  |  |  |  |  |  |  |  |  |
Provisions and other non-deductible liabilities |  |  | 2,920 |  |  |  | 1,861 |  |  |  | 3,607 |
Tax losses carryforward and other tax credits |  |  | 21,575 |  |  |  | 6,484 |  |  |  | 3,837 |
Miscellaneous |  |  | 270 |  |  |  | 99 |  |  |  | 82 |
Total deferred tax assets |  |  | 24,765 |  |  |  | 8,444 |  |  |  | 7,526 |
Deferred tax liabilities |  |  |  |  |  |  |  |  |  |  |  |
Property, plant and equipment |  |  | (113,821 | ) |  |  | (43,931 | ) |  |  | (45,579 | )
Miscellaneous |  |  | (1,768 | ) |  |  | (1,570 | ) |  |  | (3,848 | )
Total deferred tax liabilities |  |  | (115,589 | ) |  |  | (45,501 | ) |  |  | (49,427 | )
Total Net deferred tax |  |  | (90,824 | )(1)(2) |  |  | (37,057 | ) |  |  | (41,901 | )
(1) | Includes 127 as a result of the implementation of the impairment method in the calculation of the impairment of financial assets pursuant to IFRS 9, having an impact in “Retained earnings”. See Note 2.b.26.
(2) | Includes (3,432) corresponding to adjustment for inflation of the opening deferred liability of subsidiaries with the Peso as functional currency with effect in other comprehensive income.
Summary of Tax Loss Carryforwards at Statutory Tax Rate | As of December 31, 2018, Group’s tax loss carryforwards at the expected recovery rate were as follows:
Date of generation |  | Date of expiration |  | Jurisdiction |  | Amount
2014 |  | 2019 |  | Argentina |  | 300
2015 |  | 2020 |  | Argentina |  | 2,700
2016 |  | 2021 |  | Argentina |  | 796
2017 |  | 2022 |  | Argentina |  | 3,418
2018 |  | 2023 |  | Argentina |  | 14,361
|  |  |  |  |  | 21,575

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