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INCOME TAX AND DEFERRED TAX (Tables)
 12 Months Ended
Dec. 31, 2023
INCOME TAX AND DEFERRED TAX [Abstract]  
Income Tax Expense
The reconciliation between the charge computed for tax purposes and the income tax expense charged to the statement of comprehensive income in the years ended December 31, 2023, 2022 and 2021 is as follows:

   
2023
    
2022
    
2021
  
Current income tax
    
(1,607,237
)
    
(49,381,853
)
    
(83,127,502
)
Deferred income tax
    
(18,500,679
)
    
(3,747,882
)
    
5,864,622
  
Total income tax
    
(20,107,916
)
    
(53,129,735
)
    
(77,262,880
)
Net Deferred Tax Assets and Liabilities
The analysis of the net deferred tax assets and liabilities is as follows:

   
2023
    
2022
  
Deferred tax assets:
            
Deferred tax assets to be recovered after more than 12 months
    
7,427,369
      
11,293,849
  
Deferred tax assets to be recovered after 12 months
    
9,358,979
      
4,399,654
  
Deferred tax liabilities:
                
Deferred tax liabilities taxable after more than 12 months
    
(94,421,498
)
    
(79,640,039
)
Deferred tax liabilities taxable after 12 months
    
(6,949,086
)
    
(2,137,021
)
Deferred tax liabilities, net
    
(84,584,236
)
    
(66,083,557
)
Components of Net Deferred Tax Assets and Liabilities
The components of the net deferred tax assets and tax liabilities as of December 31, 2023, 2022 and 2021 are the following:

Deferred tax assets
  
Account
receivables
discounted value
    
Provisions for
legal claims and
other provisions
    
Financial
leases
    
Contract
liabilities
    
Tax loss
carryforward
    
Tax
inflation
adjustment
     Financial assets at fair value through profit or loss    
Other
receivables
    
Total
  
As of December 31, 2021
    
5,531
      
3,138,933
      
6,252,586
      
8,562,667
      
10,268,474
      
91,018
      
-
       -      
28,319,209
  
Charge in results
    
(5,531
)
    
(1,139,905
)
    
(1,752,749
)
    
21,064
      
(10,268,474
)
    
(51,902
)
    
571,791
       -      
(12,625,706
)
As of December 31, 2022
    
-
      
1,999,028
      
4,499,837
      
8,583,731
      
-
      
39,116
      
571,791
       -      
15,693,503
  
Charge in results
    
-
      
(1,132,913
)
    
1,312,391
      
(6,199,800
)
    
1,403,426
      
(31,538
)
    
2,150,011
       3,591,268      
1,092,845
  
As of December 31, 2023
    
-
      
866,115
      
5,812,228
      
2,383,931
      
1,403,426
      
7,578
      
2,721,802
       3,591,268      
16,786,348
  

Deferred tax liabilities
  
Other
receivables
    
Loans
    
Property, Plant
and Equipment
    
Cash and
cash
equivalents
    
Inventories
    
Tax
inflation
adjustment
    
Other
liabilities
    
Total
  
As of December 31, 2021
    
(16,274
)
    
(508,877
)
    
(66,657,258
)
    
(104,689
)
    
(394,999
)
    
(22,187,106
)
     (785,681 )     (90,654,884 )
Charge in results
    
(355,515
)
    
72,944
      
(4,413,964
)
    
(1,223,150
)
    
21,749
      
13,990,079
       785,681       8,877,824  
As of December 31, 2022
    
(371,789
)
    
(435,933
)
    
(71,071,222
)
    
(1,327,839
)
    
(373,250
)
    
(8,197,027
)
     -       (81,777,060 )
Charge in results
    
371,789
      
58,385
      
(6,844,195
)
    
(4,024,407
)
    
(846,042
)
    
(8,309,054
)
     -       (19,593,524 )
As of December 31, 2023
    
-
      
(377,548
)
    
(77,915,417
)
    
(5,352,246
)
    
(1,219,292
)
    
(16,506,081
)
     -       (101,370,584 )
Effective Income Tax Rate Reconciliation
Income tax expense computed at the statutory tax rate on pre-tax income differs from the income tax expense for the years ended December 31, 2023, 2022 and 2021 as follows:

   
2023
    
2022
    
2021
  
Pre tax income
    
43,625,948
      
153,769,841
      
204,230,976
  
Statutory income tax rate
    
35
%
    
35
%
    
35
%
Pre tax income at statutory income tax rate
    
(15,269,082
)
    
(53,819,444
)
    
(71,480,842
)
Tax effects due to:
                        
- Tax loss variation
     -       -       10,268,474  
- Adjustment affidavit previous year
    
(143,706
)
    
(255,610
)
    
(409,984
)
- Tax inflation adjustment and restatement by inflation
     (4,621,560 )     779,382       11,205,356  
- Variation of tax rate
    
-
      
-
      
(24,772,537
)
- Others
    
(73,568
)
    
165,937
      
(2,073,347
)
Total income tax
    
(20,107,916
)
    
(53,129,735
)
    
(77,262,880
)