
		As of December 31,
		2021	2020
Tax carryforward		(198)	(17,308)
Allowance for doubtful accounts		(5,231)	(4,391)
Provisions		(2,793)	(2,222)
PP&E and Intangible assets		120,819	111,854
Cash dividends from foreign companies		1,385	888
Income tax inflation adjustment effect		23,194	32,211
Other deferred tax liabilities (assets), net		(1,713)	(62)
Total deferred tax liabilities, net		135,463	120,970
Actions for recourse tax receivable		(889)	(1,331)
Total deferred tax liability, net	*()**	135,574	119,639

Net deferred tax assets		(658)	(622)
Net deferred tax liabilities		135,232	120,261

(*) Includes $132 of currency translation adjustments on foreign subsidiaries’ initial balances.


	Years ended December 31,
	2021		2020		2019

	Profit (loss)
Pre-tax income	43,257		4,750		21,127
Non-taxable items – (Earnings) losses from associates	(395)		(749)		385
Non-taxable items – Costs valuation differences of foreign investments	—		(9,917)		(21,665)
Non-taxable items – Other	(471)		(2,266)		(1,632)
Restatement in current currency of Equity, goodwill and others	101,708		93,866		149,896
Subtotal	144,099		85,684		148,111
Weighted statutory income tax rate	34,34	%	24,59	%	26,14	%
Income tax expense at weighted statutory tax rate	(49,480)		(21,070)		(38,716)
Deferred tax liability restatement in current currency and others	58,971		31,244		40,781
Income tax inflation adjustment	(41,919)		(22,403)		(31,222)
Actions for recourse	7		18		107
Income tax on cash dividends of foreign companies	(896)		(243)		(66)
Income tax expense	*() (33,317)**		(12,454)		() (29,116)**

Current tax expense	(18,630)		(364)		(329)
Deferred tax expense	(14,687)		(12,090)		(28,787)
Income tax expense	(33,317)		(12,454)		(29,116)

(*) Includes the effect of the change in the income tax rate provided for in Law No. 27,630 for approximately $(42,800).

(**) Includes the effect of the change in the income tax rate provided for in Law No. 27,541 for approximately $(8,372).