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CURRENT AND DEFERRED INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2017

CURRENT AND DEFERRED INCOME TAXES

Schedule of current tax assets

Description		12.31.2017		12.31.2016
		ThCh$		ThCh$
Monthly provisional payments		—		1,330,379
Tax credits (1)		—		371,917
Total		—		1,702,296

(1) Tax credits correspond to income tax credits on training expenses, purchase of Property, plant and equipment, and donations, and additionally income tax recoveries requested by Brazil.

Schedule of current tax payable

Description		12.31.2017		12.31.2016
		ThCh$		ThCh$
Income tax expense		3,184,965		10,828,593
Total		3,184,965		10,828,593

Schedule of current and deferred income tax expenses

Item		12.31.2017		12.31.2016		12.31.2015
		ThCh$		ThCh$		ThCh$
Current income tax expense		40,183,261		35,902,002		33,322,550
Current tax adjustment previous period		137,455		534,392		(117,316	)
Withholding tax expense foreign subsidiaries		6,730,031		7,645,218		7,027,661
Other current tax expense (income)		(5,733	)	92,008		1,212,398
Current income tax expense		47,045,014		44,173,620		41,445,293
Income (expense) for the creation and reversal of current tax difference		4,752,620		4,633,473		197,269
Expense (income) for deferred taxes		4,752,620		4,633,473		197,269
Total income tax expense		51,797,634		48,807,093		41,642,562

Schedule of the net cumulative balances of temporary differences that give rise to deferred tax assets and liabilities

		12.31.2017				12.31.2016
Temporary differences		Assets		Liabilities		Assets		Liabilities
		ThCh$		ThCh$		ThCh$		ThCh$
Property, plant and equipment		5,978,377		47,179,903		2,127,336		48,561,147
Obsolescence provision		2,215,341		200,979		1,541,553		—
Employee benefits		5,391,796		—		4,383,007		—
Post-employment benefits		61,155		1,020,522		49,900		1,010,779
Tax loss carried-forwards (1)		10,056,534		—		9,928,940		—
Tax Goodwill Brazil		23,195,957		—		31,926,760		—
Contingency provision		31,177,351		—		36,969,451		—
Foreign exchange differences (2)		7,631,498		—		—		2,124,435
Allowance for doubtful accounts		1,155,542		—		1,031,375		—
Coca-Cola incentives (Argentina)		451,790		—		2,408,651		—
Assets and liabilities for placement of bonds		—		1,297,000		—		669,856
Lease liabilities		1,083,010		—		1,767,944		—
Inventories		350,746		—		1,604,538		806.529
Distribution rights		—		163,850,599		—		168,511,436
Others		3,729,093		920,772		2,689,002		353,077
Subtotal		92,478,190		214,469,775		96,428,457		222,037,259
Total liabilities net		3,212,981		125,204,566		—		125,608,802
Total net movement fiscal year		—		121,991,585		—		125,608,802

(1) Tax losses mainly associated with the subsidiary Embotelladora Andina Chile S.A. In Chile tax losses have no expiration date

(2) Corresponds to differed taxes for exchange rate differences generated on the translation of debt expressed in foreign currency in the subsidiary Rio de Janeiro Refrescos Ltda. and which for tax purposes are recognized in Brazil when incurred.

Schedule of movement in deferred income tax accounts

Item		12.31.2017		12.31.2016		12.31.2015
		ThCh$		ThCh$		ThCh$
Opening Balance		125,608,802		130,201,701		126,126,147
Increase (decrease) in deferred tax		(3,417,011	)	(6,409,481	)	9,474,186
Increase (decrease) due to foreign currency translation		(200,206	)	1,816,582		(5,398,632	)
Movements		(3,617,217	)	(4,592,899	)	4,075,554
Ending balance		121,991,585		125,608,802		130,201,701

Schedule of composition of domestic and foreign tax expense

Income tax		12.31.2017		12.31.2016		12.31.2015
		ThCh$		ThCh$		ThCh$
Current income taxes
Foreign		(30,258,395	)	(24,752,106	)	(36,438,137	)
Domestic		(16,786,619	)	(19,421,514	)	(5,007,156	)
Current income tax expense		(47,045,014	)	(44,173,620	)	(41,445,293	)
Deferred income taxes
Foreign		(4,667,982	)	(4,291,287	)	9,745,398
Domestic		(84,638	)	(342,186	)	(9,942,667	)
Deferred income tax expense		(4,752,620	)	(4,633,473	)	(197,269	)
Income tax expense		(51,797,634	)	(48,807,093	)	(41,642,562	)

Schedule of reconciliation between the effective tax rate and the statutory rate

Reconciliation of effective rate		12.31.2017		12.31.2016		12.31.2015
		ThCh$		ThCh$		ThCh$
Net income before taxes		170,798,359		140,856,204		129,740,488
Tax expense at legal rate (25.5%)		(43,553,581	)	—		—
Tax expense at legal rate (24.0%)		—		(33,805,489	)	(29,191,610	)
Effect of a different tax rate in other jurisdictions		(4,971,103	)	(9,214,270	)	(8,161,392	)
Permanent differences:
Non-taxable revenues		9,645,068		6,068,410		11,778,290
Non-deductible expenses		(4,020,729	)	(419,761	)	(5,557,758	)
Effect of tax on excess tax provision previous periods		125,021		86,731		117,316
Effect of tax monetary restatement Chilean companies		(1,465,753	)	(1,875,343	)	(2,387,349	)
Foreign subsidiaries tax withholding expense and other legal tax debits and credits		(7,556,557	)	(9,647,371	)	(8,240,059	)
Adjustments to tax expense		(3,272,950	)	(5,787,334	)	(4,289,560	)
Tax expense at effective rate		(51,797,634	)	(48,807,093	)	(41,642,562	)
Effective rate		30.6	%	34.7	%	32.1	%

Schedule of income tax rates applicable in each jurisdiction

		Rate
Country		2017		2016		2015
Chile		25.5	%	24.0	%	22.5	%
Brazil		34.0	%	34.0	%	34.0	%
Argentina		35.0	%	35.0	%	35.0	%
Paraguay		10.0	%	10.0	%	10.0	%

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