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INCOME TAX AND DEFERRED TAX (Tables)
 12 Months Ended
Dec. 31, 2024
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, 2024, 2023 and 2022 is as follows:

   
2024
    
2023
    
2022
  
Current income tax
    
(217,437,074
)
    
(3,499,977
)
    
(107,535,714
)
Deferred income tax
    
5,497,595
      
(40,287,750
)
    
(8,161,524
)
Total income tax
    
(211,939,479
)
    
(43,787,727
)
    
(115,697,238
)
Net Deferred Tax Assets and Liabilities
The analysis of the net deferred tax assets and liabilities is as follows:

   
2024
    
2023
  
Deferred tax assets:
            
Deferred tax assets to be recovered after more than 12 months
    
20,339,104
      
16,174,108
  
Deferred tax assets to be recovered after 12 months
    
14,039,636
      
20,380,450
  
Deferred tax liabilities:
                
Deferred tax liabilities taxable after more than 12 months
    
(194,491,864
)
    
(205,615,679
)
Deferred tax liabilities taxable after 12 months
    
(18,582,982
)
    
(15,132,580
)
Deferred tax liabilities, net
    
(178,696,106
)
    
(184,193,701
)
Components of Net Deferred Tax Assets and Liabilities
The components of the net deferred tax assets and liabilities as of December 31, 2024, 2023 and 2022 is as follows:

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
    12,045       6,835,454       13,615,858       18,646,374       22,361,001       198,204       -       -       61,668,936  
Charge in results
     (12,045 )     (2,482,298 )     (3,816,850 )     45,870       (22,361,001 )     (113,024 )     1,245,153       -       (27,494,195 )
As of December 31, 2022
    
-
      
4,353,156
      
9,799,008
      
18,692,244
      
-
      
85,180
      
1,245,153
       -      
34,174,741
  
Charge in results
    
-
      
(2,467,073
)
    
2,857,911
      
(13,500,909
)
    
3,056,151
      
(68,680
)
    
4,681,942
       7,820,475      
2,379,817
  
As of December 31, 2023
    
-
      
1,886,083
      
12,656,919
      
5,191,335
      
3,056,151
      
16,500
      
5,927,095
       7,820,475      
36,554,558
  
Charge in results
    
-
      
(1,542,728
)
    
(7,764,910
)
    
14,213,337
      
(3,056,151
)
    
(13,913
)
    
1,818,259
       (5,829,712 )    
(2,175,818
)
As of December 31, 2024
    
-
      
343,355
      
4,892,009
      
19,404,672
      
-
      
2,587
      
7,745,354
       1,990,763      
34,378,740
  

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
    (35,439 )     (1,108,149 )     (145,155,263 )     (227,975 )     (860,164 )     (48,315,447 )     (1,710,927 )     (197,413,364 )
Charge in results
     (774,182 )     158,846       (9,612,008 )     (2,663,576 )     47,361       30,465,304       1,710,927       19,332,672  
As of December 31, 2022
    
(809,621
)
    
(949,303
)
    
(154,767,271
)
    
(2,891,551
)
    
(812,803
)
    
(17,850,143
)
     -       (178,080,692 )
Charge in results
    
809,621
      
127,141
      
(14,904,167
)
    
(8,763,694
)
    
(1,842,371
)
    
(18,094,097
)
     -       (42,667,567 )
As of December 31, 2023
    
-
      
(822,162
)
    
(169,671,438
)
    
(11,655,245
)
    
(2,655,174
)
    
(35,944,240
)
     -       (220,748,259 )
Charge in results
    
-
      
(2,725,348
)
    
(17,267,757
)
    
(2,801,418
)
    
2,076,365
      
28,391,571
       -       7,673,413  
As of December 31, 2024
    
-
      
(3,547,510
)
    
(186,939,195
)
    
(14,456,663
)
    
(578,809
)
    
(7,552,669
)
     -       (213,074,846 )
Effective Income Tax Rate Reconciliation
Below is a reconciliation between the income tax charged to results for the years ended December 31, 2024, 2023 and 2022 and that which would result from applying the current tax rate on net income before income tax for the exercise:

   
2024
    
2023
    
2022
  
Pre tax income
    
582,102,974
      
95,001,446
      
334,854,783
  
Statutory income tax rate
    
35
%
    
35
%
    
35
%
Pre tax loss at statutory income tax rate
    
(203,736,041
)
    
(33,250,506
)
    
(117,199,174
)
Tax effects due to:
                        
- Adjustment affidavit previous year
    
(241,439
)
    
(312,939
)
    
(556,626
)
- Tax inflation adjustment and restatement by inflation
     (11,221,662 )     (10,064,077 )     1,697,211  
- Others
    
3,259,663
      
(160,205
)
    
361,351
  
Total income tax
    
(211,939,479
)
    
(43,787,727
)
    
(115,697,238
)