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CURRENT AND DEFERRED INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2018

CURRENT AND DEFERRED INCOME TAXES

Schedule of current tax assets

Description		12.31.2018		12.31.2017
		ThCh$		ThCh$
Tax credits (*)		2,532,056		—
Total		2,532,056		—

(*)  Tax credits correspond to income tax credits on training expenses, purchase of Property, plant and equipment, and donations.

Schedule of current tax payable

Description		12.31.2018		12.31.2017
		ThCh$		ThCh$
Income tax expense		9,338,612		3,184,965
Total		9,338,612		3,184,965

Schedule of current and deferred income tax expenses

Item		12.31.2018		12.31.2017		12.31.2016
		ThCh$		ThCh$		ThCh$
Current income tax expense		38,313,980		40,183,261		35,902,002
Current tax adjustment previous period		312,403		137,455		534,392
Withholding tax expense foreign subsidiaries		7,364,213		6,730,031		7,645,218
Other current tax expense (income)		474,105		(5,733)		92,008
Current income tax expense		46,464,701		47,045,014		44,173,620
Income (expense) for the creation and reversal of current tax difference (*)		9,100,154		4,752,620		4,633,473
Expense (income) for deferred taxes		9,100,154		4,752,620		4,633,473
Total income tax expense		55,564,855		51,797,634		48,807,093

(*)   It includes the effects for the adoption of IAS 29.

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

		12.31.2018				12.31.2017
Temporary differences		Assets		Liabilities		Assets		Liabilities
		ThCh$		ThCh$		ThCh$		ThCh$
Property, plant and equipment		5,420,447		46,181,359		5,978,377		47,179,903
Obsolescence provision		910,076		112,359		2,215,341		200,979
Employee benefits		5,169,161		131,829		5,391,796		—
Post-employment benefits		90,941		1,014,354		61,155		1,020,522
Tax loss carried-forwards (1)		9,137,392		—		10,056,534		—
Tax Goodwill Brazil		18,836,838		—		23,195,957		—
Contingency provision		26,796,262		—		31,177,351		—
Foreign exchange differences (2)		13,083,953		—		7,631,498		—
Allowance for doubtful accounts		1,262,977		—		1,155,542		—
Coca-Cola incentives (Argentina)		352,061		—		451,790		—
Assets and liabilities for placement of bonds		—		1,327,727		—		1,297,000
Lease liabilities		1,328,320		—		1,083,010		—
Inventories		347,470		—		350,746		—
Distribution rights		—		173,273,994		—		163,850,599
Others				5,940,224		3,729,093		920,772
Subtotal		82,735,898		227,981,846		92,478,190		214,469,775
Total Assets and net liabilities		—		145,245,948		3,212,981		125,204,566

(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. This item also includes the effects of the differences generated in the appraisal of forward contracts.

Schedule of movement in deferred income tax accounts

Item		12.31.2018		12.31.2017		12.31.2016
		ThCh$		ThCh$		ThCh$
Opening Balance		121,991,585		125,608,802		130,201,701
Increase (decrease) in deferred tax		11,303,016		(3,417,011)		(6,409,481)
Increase (decrease) due to foreign currency translation (*)		11,951,347		(200,206)		1,816,582
Movements		23,254,363		(3,617,217)		(4,592,899)
Ending balance		145,245,948		121,991,585		125,608,802

(*)   It includes the effects for the adoption of IAS 29.

Schedule of composition of domestic and foreign tax expense

Income tax		12.31.2018		12.31.2017		12.31.2016
		ThCh$		ThCh$		ThCh$
Current income taxes
Foreign		(24,442,984)		(30,258,395)		(24,752,106)
Domestic		(22,021,717)		(16,786,619)		(19,421,514)
Current income tax expense		(46,464,701)		(47,045,014)		(44,173,620)
Deferred income taxes
Foreign		(9,121,332)		(4,667,982)		(4,291,287)
Domestic		21,178		(84,638)		(342,186)
Deferred income tax expense		(9,100,154)		(4,752,620)		(4,633,473)
Income tax expense		(55,564,855)		(51,797,634)		(48,807,093)

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

Reconciliation of effective rate		12.31.2018		12.31.2017		12.31.2016
		ThCh$		ThCh$		ThCh$
Net income before taxes		153,606,681		170,798,359		140,856,204
Tax expense at legal rate (27.0%)		(41,544,270)		—		—
Tax expense at legal rate (25.5%)		—		(43,553,581)		(33,805,489)
Effect of a different tax rate in other jurisdictions		967,671		(4,971,103)		(9,214,270)
Permanent differences:
Non-taxable revenues		12,752,599		9,645,068		6,068,410
Non-deductible expenses		(11,141,237)		(4,020,729)		(419,761)
Tax effect on excess tax provision prior periods		(295,632)		125,021		86,731
Effect of tax restatement Chilean companies		2,566,163		(1,465,753)		(1,875,343)
Foreign subsidiaries tax withholding expense and other legal tax debits and credits		(18,870,149)		(7,556,557)		(9,647,371)
Adjustments to tax expense		(14,988,256)		(3,272,950)		(5,787,334)
Tax expense at effective rate		(55,564,855)		(51,797,634)		(48,807,093)
Effective rate		36.2	%	30.6	%	34.7	%

Schedule of income tax rates applicable in each jurisdiction

		Rate
Country		2018		2017		2016
Chile		27.0	%	25.5	%	24.0	%
Brazil		34.0	%	34.0	%	34.0	%
Argentina		30.0	%	35.0	%	35.0	%
Paraguay		10.0	%	10.0	%	10.0	%

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