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INCOME TAX EXPENSE AND DEFERRED TAXES (Tables) | 12 Months Ended
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Dec. 31, 2020
INCOME TAX EXPENSE AND DEFERRED TAXES |
Schedule of current and deferred income tax expenses |
Details |  | 12.31.2020 |  | 12.31.2019 |  | 12.31.2018
|  | ThCh$ |  | ThCh$ |  | ThCh$
Current income tax expense |  | 55,522,189 |  | 35,439,707 |  | 38,313,980
Current tax adjustment previous period |  | (735,907) |  | 713,992 |  | 312,403
Foreign dividends tax withholding expense |  | 6,987,142 |  | 4,534,145 |  | 7,364,213
Other current tax expense (income) |  | (47,569) |  | (425,958) |  | 474,105
Current income tax expense |  | 61,725,855 |  | 40,261,886 |  | 46,464,701
Expense (income) for the creation and reversal of temporary differences of deferred tax and others |  | (6,820,456) |  | 20,905,005 |  | 9,100,154
Expense (income) for deferred taxes |  | (6,820,456) |  | 20,905,005 |  | 9,100,154
Total income tax expense |  | 54,905,399 |  | 61,166,891 |  | 55,564,855
Schedule of distribution of national and foreign tax expenditure |
Income taxes |  | 12.31.2019 |  | 12.31.2018 |  | 12.31.2018
|  | ThCh$ |  | ThCh$ |  | ThCh$
Current taxes |  |  |  |  |  |
Foreign |  | (39,128,690) |  | (24,315,576) |  | (24,442,984)
National |  | (22,597,165) |  | (15,946,310) |  | (22,021,717)
Current tax expense |  | (61,725,855) |  | (40,261,886) |  | (46,464,701)
Deferred taxes |  |  |  |  |  |
Foreign |  | 7,280,487 |  | (24,012,798) |  | (9,121,332)
National |  | (460,031) |  | 3,107,793 |  | 21,178
Deferred tax expense |  | 6,820,456 |  | (20,905,005) |  | (9,100,154)
Income tax expense |  | (54,905,399) |  | (61,166,891) |  | (55,564,855)
Schedule of reconciliation of the tax expense using the statutory rate with the tax expense using the effective rate |
Reconciliation of effective rate |  | 12.31.2020 |  | 12.31.2019 |  | 12.31.2018 |
|  | ThCh$ |  | ThCh$ |  | ThCh$ |
Net income before taxes |  | 178,022,719 |  | 236,413,116 |  | 153,015,601 |
Tax expense at legal rate (27.0%) |  | (48,066,134) |  | (63,831,541) |  | (41,314,212) |
Effect of a different tax rate in other jurisdictions |  | 1,032,950 |  | (3,471,705) |  | 967,671 |
Permanent differences: |  |  |  |  |  |  |
Non-taxable revenues |  | (2,417,582) |  | 9,507,807 |  | 12,522,541 |
Non-deductible expenses |  | (6,007,898) |  | (4,664,045) |  | (11,141,237) |
Reversal of tax provision |  | 113,747 |  | (3,316,278) |  | (295,632) |
Effect of monetary tax restatement Chilean companies |  | (5,936,464) |  | 5,199,589 |  | 2,566,163 |
Foreign subsidiaries tax withholding expense and other legal tax debits and credits |  | 6,375,982 |  | (590,718) |  | (18,870,149) |
Adjustments to tax expense |  | (7,872,215) |  | 6,136,355 |  | (15,218,314) |
Tax expense at effective rate |  | (54,905,399) |  | (61,166,891) |  | (55,564,855) |
Effective rate |  | 30.8 | % | 25.9 | % | 36.3 | %
Schedule of income tax rates applicable in each jurisdiction |
|  | Rate |
Country |  | 2020 |  | 2019 |  | 2018 |
Chile |  | 27.0 | % | 27.0 | % | 27.0 | %
Brazil |  | 34.0 | % | 34.0 | % | 34.0 | %
Argentina |  | 30.0 | % | 30.0 | % | 30.0 | %
Paraguay |  | 10.0 | % | 10.0 | % | 10.0 | %
Schedule of the net cumulative balances of temporary differences that give rise to deferred tax assets and liabilities |
|  | 12.31.2020 |  | 12.31.2019
Temporary differences |  | Assets |  | Liabilities |  | Assets |  | Liabilities
|  | CLP (000’s) |  | CLP (000’s) |  | CLP (000’s) |  | CLP (000’s)
Property, plant and equipment |  | 5,421,466 |  | 39,544,960 |  | 5,445,810 |  | 51,414,971
Obsolescence provision |  | 1,340,235 |  | — |  | 1,588,563 |  | —
ICMS exclusion credit |  | — |  | 17,679,221 |  | — |  | 25,651,794
Employee benefits |  | 4,475,497 |  | 18,300 |  | 5,418,561 |  | 12,157
Post-employment benefits |  | 150,027 |  | 101,339 |  | 148,853 |  | 787,576
Tax loss carry forwards (1) |  | 6,423,820 |  | — |  | 7,607,813 |  | —
Tax goodwill Brazil |  | 2,080,987 |  | — |  | 10,341,033 |  | —
Contingency provision |  | 24,103,234 |  | — |  | 34,109,458 |  | —
Foreign Exchange differences (2) |  | 8,116,713 |  | — |  | 9,284,450 |  | —
Allowance for doubtful accounts |  | 915,562 |  | — |  | 756,895 |  | —
Assets and liabilities for placement of bonds |  | 378,901 |  | 2,377,870 |  | 390,163 |  | 1,187,649
Lease liabilities |  | 1,528,990 |  | — |  | 2,242,439 |  | —
Inventories |  | 469,416 |  | — |  | 447,192 |  | —
Distribution rights |  | — |  | 144,151,661 |  | — |  | 163,107,412
Hedging derivatives |  | — |  | — |  | — |  | —
Others |  | 3,785,655 |  | 7,060,830 |  | — |  | 3,705,078
Subtotal |  | 59,190,503 |  | 210,934,181 |  | 77,781,230 |  | 245,866,637
Total assets and liabilities net |  | 1,925,869 |  | 153,669,547 |  | 1,364,340 |  | 169,449,747
| (1) |  | Tax losses mainly associated with the subsidiary Embotelladora Andina Chile S.A. Tax losses have no expiration date in Chile
| (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 then incurred.
Schedule of movement in deferred income tax accounts |
Movement |  | 12.31.2020 |  | 12.31.2019 |  | 12.31.2018
|  | ThCh$ |  | ThCh$ |  | ThCh$
Opening Balance |  | 168,085,407 |  | 145,245,948 |  | 121,991,585
Increase (decrease) in deferred tax |  | 4,411,619 |  | 20,905,005 |  | 11,303,016
Increase (decrease) due to foreign currency translation (*) |  | (20,753,348) |  | 1,934,454 |  | 11,951,347
Total movements |  | (16,341,729) |  | 22,839,459 |  | 23,254,363
Ending balance |  | 151,743,678 |  | 168,085,407 |  | 145,245,948
(*) Includes IAS 29 effect, due to inflation in Argentina

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