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INCOME TAX EXPENSE AND DEFERRED TAXES (Tables)

12 Months Ended

Dec. 31, 2023

INCOME TAX EXPENSE AND DEFERRED TAXES

Schedule of current and deferred income tax expenses

​

​	​	​	​	​	​	​
Details		12.31.2023		12.31.2022		12.31.2021
​	​	ThCh$	​	ThCh$	​	ThCh$
Current income tax expense		(58,334,583)	​	(63,245,293)	​	(45,614,890)
Current tax adjustment previous period		(152,481)	​	311,931	​	2,284,477
Foreign dividends tax withholding expense		(11,803,842)	​	(11,129,734)	​	(2,877,817)
Other current tax expense (income)		(688,765)	​	—	​	114,130
Current income tax expense		(70,979,671)	​	(74,063,096)	​	(46,094,100)
Expense (income) for the creation and reversal of temporary differences of deferred tax and others		(15,014,636)	​	(30,281,542)	​	(83,220)
Expense (income) for deferred taxes		(15,014,636)	​	(30,281,542)	​	(83,220)
Total income tax expense		(85,994,307)	​	(104,344,638)	​	(46,177,320)

Schedule of distribution of national and foreign tax expenditure

​

​	​	​	​	​	​	​
Income taxes		12.31.2023		12.31.2022		12.31.2021
​	​	ThCh$	​	ThCh$	​	ThCh$
Current taxes		​	​
Foreign		(44,507,433)	​	(61,250,403)	​	(37,363,624)
National		(26,472,238)	​	(12,812,693)	​	(8,730,476)
Current tax expense		(70,979,671)	​	(74,063,096)	​	(46,094,100)
Deferred taxes		​	​	​	​	​
Foreign		(13,619,606)	​	(4,596,695)	​	6,942,925
National		(1,395,030)	​	(25,684,847)	​	(7,026,145)
Deferred tax expense		(15,014,636)	​	(30,281,542)	​	(83,220)
Income tax expense		(85,994,307)	​	(104,344,638)	​	(46,177,320)

Schedule of reconciliation of the tax expense using the statutory rate with the tax expense using the effective rate

​

​	​	​	​	​	​	​	​
Reconciliation of effective rate		12.31.2023		12.31.2022		12.31.2021
​	​	ThCh$	​	ThCh$	​	ThCh$
Net income before taxes		260,505,794	​	232,803,625	​	203,208,988	​
Tax expense at legal rate (27.0%)		(70,336,564)	​	(62,856,979)	​	(54,866,427)	​
Effect of tax rate in other jurisdictions		(854,686)	​	(2,820,546)	​	860,745	​
​	​	​	​	​	​	​	​
Permanent differences:		​		​		​	​
Foreign dividend tax withholding expense and other non-taxable income		(15,253,682)	​	(11,536,654)	​	(10,868,055)	​
Non-deductible expenses		(2,585,111)	​	(3,622,958)	​	(2,935,310)	​
Tax effect on excess tax provision in previous periods	​	(188,988)	​	(81,258)	​	13,250,594	​
Tax effect of price-level restatement for Chilean companies	​	(9,929,818)	​	(33,196,408)	​	(15,794,098)	​
Subsidiaries tax withholding expense and other legal tax debits and credits		13,154,542	​	9,770,165	​	24,175,231	​
Adjustments to tax expense		(14,803,057)	​	(38,667,113)	​	7,828,362	​
Tax expense at effective rate		(85,994,307)	​	(104,344,638)	​	(46,177,320)	​
Effective rate		33.0	%	44.8	%	22.7	%

Schedule of income tax rates applicable in each jurisdiction

​

​	​	​	​	​	​	​	​
​	​	Rates
Country		2023		2022		2021
Chile		27.00	%	27.00	%	27.00	%
Brazil		34.00	%	34.00	%	34.00	%
Argentina		35.00	%	35.00	%	35.00	%
Paraguay		10.00	%	10.00	%	10.00	%

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

​

​	​	​	​	​	​	​	​	​
​	​	12.31.2023			​	12.31.2022
Temporary differences		Assets		Liabilities		Assets		Liabilities
​	​	ThCh$	​	ThCh$	​	ThCh$	​	ThCh$
Property, plant and equipment		5,970,424	​	(54,058,525)		5,351,293	​	(58,230,728)
Obsolescence provision		2,231,501	​	—		1,871,168	​	—
ICMS exclusion credit		3,241,530	​	—		2,686,693	​	—
Employee benefits		8,212,311	​	(14,382)		5,033,868	​	(3,348)
Provision for severance indemnity		2,546,033	​	(94,659)		2,789,893	​	(42,264)
Tax loss carry forwards (1)	​	2,142,747	​	—		5,569,124	​	—
Tax goodwill Brazil (2)		—	​	(15,782,005)		—	​	(9,081,512)
Contingency provision		27,144,927	​	—		27,145,591	​	—
Foreign Exchange differences (3)		4,640,723	​	—		11,478,538	​	—
Allowance for doubtful accounts	​	799,274	​	—	​	803,608	​	—
Coca-Cola incentives (Argentina)		—	​	—		633,919	​	—
Assets and liabilities for placement of bonds		—	​	(561,994)		—	​	(610,594)
Financial expense	​	—	​	(2,363,384)	​	—	​	(1,894,010)
Lease liabilities		3,665,695	​	—		1,874,166	​	—
Inventories		1,706,518	​	—		1,312,833	​	—
Distribution rights (4)		—	​	(161,155,669)		—	​	(154,669,995)
Prepaid income	​	4,481,352	​	—	​	5,339,265	​	(8,287)
Spare parts		—	​	(4,816,189)		—	​	(4,142,782)
Intangibles	​	77,752	​	(5,497,812)		69,395	​	(7,388,202)
Others	​	4,301,875	​	(2,965,088)		5,282,818	​	(4,520,673)
Subtotal		71,162,662		(247,309,707)	​	77,242,172	​	(240,592,395)
Offsetting of deferred tax assets/(liabilities)	​	(66,839,488)	​	66,839,488	​	(74,813,839)	​	74,813,839
Total assets and liabilities net		4,323,174		(180,470,219)	​	2,428,333	​	(165,778,556)

(1) Tax losses mainly associated with entities in Chile. Tax losses have no expiration date in Chile.

(2) Difference for tax amortization of Goodwill in Brazil.

(3) Corresponds to deferred taxes for exchange rate differences generated on the translation of debts expressed in foreign currency in the subsidiary Rio de Janeiro Refrescos Ltda., that for tax purposes are recognized when paid.

(4) Distribution rights arising from business combinations. See Note 15.

Schedule of movement in deferred income tax accounts

​

​	​	​	​	​
Movement		12.31.2023		12.31.2022
​	​	ThCh$	​	ThCh$
Opening balance		(163,350,223)	​	(166,596,100)
Increase (decrease) in deferred tax		(31,400,047)	​	8,090,171
Increase (decrease) due to foreign currency translation(*)		18,603,225	​	(4,844,294)
Total movements		(12,796,822)	​	3,245,877
Ending balance		(176,147,045)	​	(163,350,223)

(*)    Includes IAS 29 effects due to inflation in Argentina

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A disclosure of income tax rates by jurisdiction.

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income tax expense for foreign and national areas.

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The disclosure of deferred taxes. [Refer: Deferred tax liabilities; Deferred tax assets]

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Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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The disclosure of types of temporary differences, unused tax losses and unused tax credits. [Refer: Unused tax credits [member]; Unused tax losses [member]; Temporary differences [member]]

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Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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