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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The components of income tax expense are as follows:

Schedule of Components of Income Tax Expense (Benefit) 

		2021				2020
		Twelve months ended December 31,
		2021				2020
Current income tax
United States		$	(1,679	)		$	(1,385	)
Colombia			(22,354	)			(5,035	)
Panama			(52	)			(32	)
Total current income tax			(24,085	)			(6,452	)
Deferred income Tax
United States			(1,829	)			20
Colombia			(2,571	)			(6,601	)
Panama			-				-
Total deferred income tax			(4,400	)			(6,581	)
Total income tax (provision)		$	(28,485	)		$	(13,033	)
Effective tax rate			29.4	%			35.3	%

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the statutory tax rate in Colombia to the Company’s effective tax rate is as follows:

Schedule of Effective Income Tax Rate Reconciliation 

		Year ended December 31,
		2021				2020
Income tax expense at statutory rates			29.6	%			30.5	%
Non-deductible expenses			2.4	%			5.9	%
Non-taxable income			-2.6	%			-1.1	%
Effective tax rate			29.4	%			35.3	%

Schedule of Deferred Tax Assets and Liabilities

The Company has the following deferred tax assets and liabilities:

Schedule of Deferred Tax Assets and Liabilities 

		2021				2020
		Year ended December 31,
		2021				2020
Deferred tax assets:
Property, plant and equipment adjustments			471				480
Tax benefit on installation of renewable energy project			201				282
Foreign currency transactions			3,828				1,052
Other			59				75
Total deferred tax assets		$	4,559			$	1,889
Deferred tax liabilities:
Depreciation and Amortization			(4,772	)			(1,931	)
Other			(71	)			(377	)
Foreign currency transactions			(2,537	)			(2,483	)
Total deferred tax liabilities		$	(7,380	)		$	(4,791	)
Net deferred tax		$	(2,821	)		$	(2,902	)

Schedule of Net Deferred Tax Liability

Net deferred tax is presented on the balance sheet as follows:

Schedule of Net Deferred Tax Liability 

		2021				2020
		December 31,
		2021				2020
Long term deferred income tax asset		$	596			$	268
Less: long term deferred income tax liability		$	3,417			$	3,170

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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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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
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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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