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Income tax and deferred tax

12 Months Ended

Dec. 31, 2022

Note

32 | Income tax and deferred tax

The breakdown of income tax, determined in accordance with the provisions of IAS 12 is as follows:

Schedule of income tax expense
	12.31.22			12.31.21			12.31.20
Deferred tax		(15,017	)		(12,356	)		8,150
Change in the income tax rate		—			(14,557	)		2,501
Current tax		—			(3,978	)		—
Difference between provision and tax return		183			436			(179	)
Income tax expense		(14,834	)		(30,455	)		10,472

The detail of the income tax expense for the year includes two effects: (i) the current tax for the year payable in accordance with the tax legislation applicable to the Company; and (ii) the effect of applying the deferred tax method on the temporary differences arising from the valuation of assets and liabilities for accounting and tax purposes.

The breakdown of deferred tax assets and liabilities is as follows:


	12.31.21			Result from exposure to inflation			Charged to Profit and loss			Charged to Other comprenhen- sive income		12.31.22
Deferred tax assets
Tax loss carryforward (*)		—			—			16,541			—		16,541
Trade receivables and other receivables		4,350			(2,117	)		(796	)		—		1,437
Trade payables and other payables		2,340			(1,139	)		508			—		1,709
Salaries and social security taxes payable		1,037			(505	)		250			—		782
Benefit plans		34			(17	)		(44	)		229		202
Tax liabilities		49			(24	)		18			—		43
Provisions		3,148			(1,532	)		649			—		2,265
Deferred tax asset		10,958			(5,334	)		17,126			229		22,979

Deferred tax liabilities:
Property, plant and equipment		(99,315	)		48,330			(63,734	)		—		(114,719	)
Financial assets at fair value through profit or loss		(745	)		363			(1,373	)		—		(1,755	)
Borrowings		(2	)		1			(197	)		—		(198	)
Tax inflation adjustment		(7,199	)		3,503			(13,519	)		—		(17,215	)
Deferred tax liability		(107,261	)		52,197			(78,823	)		—		(133,887	)

Net deferred tax liability		(96,303	)		46,863			(61,697	)		229		(110,908	)

(*)

Relates to the tax loss originated in fiscal year 2022, for a nominal value of $ 47,259, which becomes statute-barred in 2027. It does not exceed its recoverable value.

	12.31.20			Result from exposure to inflation			Charged to Profit and loss			Charged to Other comprenhen- sive income			12.31.21
Deferred tax assets
Tax loss carryforward		728			(245	)		(483	)		—			—
Trade receivables and other receivables		3,970			(1,338	)		1,718			—			4,350
Trade payables and other payables		1,991			(672	)		1,021			—			2,340
Salaries and social security taxes payable		750			(253	)		540			—			1,037
Benefit plans		226			(76	)		21			(137	)		34
Tax liabilities		56			(19	)		12			—			49
Provisions		2,404			(810	)		1,554			—			3,148
Deferred tax asset		10,125			(3,413	)		4,383			(137	)		10,958

Deferred tax liabilities:
Property, plant and equipment		(68,732	)		23,178			(53,761	)		—			(99,315	)
Financial assets at fair value through profit or loss		(877	)		296			(164	)		—			(745	)
Borrowings		(6	)		2			2			—			(2	)
Tax inflation adjustment		(10,199	)		3,440			(440	)		—			(7,199	)
Deferred tax liability		(79,814	)		26,916			(54,363	)		—			(107,261	)

Net deferred tax liability		(69,689	)		23,503			(49,980	)		(137	)		(96,303	)

The reconciliation between the income tax expense recognized in profit or loss and the amount that would result from applying the applicable tax rate to the accounting loss before taxes, is as follows:


	12.31.22			12.31.21			12.31.20
Loss for the year before taxes		(2,634	)		(11,122	)		(62,489	)
Applicable tax rate		35	%		35	%		30	%
Result for the year at the tax rate		922			3,893			18,747
Gain (loss) on net monetary position		6,013			(6,541	)		(3,935	)
Adjustment effect on tax inflation		(21,929	)		(13,581	)		(6,539	)
Non-taxable income		(23	)		(105	)		(123	)
Difference between provision and tax return		183			436			(179	)
Change in the income tax rate		—			(14,557	)		2,501
Income tax expense		(14,834	)		(30,455	)		10,472

The income tax payable, net of withholdings is detailed below.

Schedule of income tax provisions
	12.31.22		12.31.21
Current
Provision of income tax payable		—		3,977
Tax withholdings		—		(1,535	)
Total current		—		2,442