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Income Taxes
 3 Months Ended
Mar. 31, 2026
Income Tax Disclosure [Abstract]  
Income Taxes

Note 10. Income Taxes

 

The Company files income tax returns for TG, ES and ES Metals in the Republic of Colombia. GM&P, Componenti and ESW LLC are U.S. entities based in Florida subject to U.S. federal and state income taxes. Tecnoglass as well as the Company’s other subsidiaries in the Cayman Islands do not currently have any tax obligations.

 

 

The components of income tax expense are as follows:

 

           
  

Three months ended

March 31,

 
   2026   2025 
Current income tax          
United States  $(7,090)  $(3,634)
Colombia   (5,363)   (11,552)
Panama   -    (4)
Total current income tax   (12,453)   (15,190)
           
Deferred income Tax          
United States   2,136    (1,413)
Colombia   (1,585)   (1,057)
Total deferred income tax   551    (2,470)
Total income provision  $(11,902)  $(17,660)
           
Effective tax rate   27.2%   29.5%

 

The effective income tax rate for the three months ended March 31, 2026, of 27.2%, approximates the weighted average statutory rate of 27.4%. The effective income tax rate for the three months ended March 31, 2025 of 29.5% approximates the weighted average statutory rate of 30.2%.