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Note 7 - Income Tax | 12 Months Ended
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Dec. 31, 2018
Statement Line Items [Line Items] |
Disclosure of income tax [text block] |
| 7 | Income tax
|  | Year ended December 31, |
(all amounts in thousands of U.S. dollars) |  | 2018 |  |  | 2017 |  |  | 2016 |
Current tax |  |  | 343,104 |  |  |  | 184,016 |  |  |  | 174,410 |
Deferred tax |  |  | (113,897 | ) |  |  | (100,432 | ) |  |  | (132,969 | )
|  |  | 229,207 |  |  |  | 83,584 |  |  |  | 41,441 |
From discontinued operations |  |  | - |  |  |  | (100,720 | ) |  |  | (24,339 | )
|  |  | 229,207 |  |  |  | (17,136 | ) |  |  | 17,102 |
The tax on Tenaris’s income before tax differs from the theoretical amount that would arise using the tax rate in each country as follows:
|  | Year ended December 31, |
(all amounts in thousands of U.S. dollars) |  | 2018 |  |  | 2017 |  |  | 2016 |
Income before income tax |  |  | 1,103,107 |  |  |  | 427,711 |  |  |  | 34,430 |
Tax calculated at the tax rate in each country |  |  | 207,422 |  |  |  | 6,456 |  |  |  | (91,628 | )
Non taxable income / Non deductible expenses, net |  |  | (57,591 | ) |  |  | 40,298 |  |  |  | 51,062 |
Changes in the tax rates |  |  | 1,824 |  |  |  | (62,968 | ) |  |  | 4,720 |
Effect of currency translation on tax base (*) |  |  | 77,552 |  |  |  | (922 | ) |  |  | 105,758 |
Accrual / Utilization of previously unrecognized tax losses |  |  | - |  |  |  | - |  |  |  | (52,810 | )
Tax charge |  |  | 229,207 |  |  |  | (17,136 | ) |  |  | 17,102 |
(*)Tenaris applies the liability method to recognize deferred income tax on temporary differences between the tax bases of assets and their carrying amounts in the financial statements. By application of this method, Tenaris recognizes gains and losses on deferred income tax due to the effect of the change in the value on the tax basis in subsidiaries (mainly Argentina and Mexico), which have a functional currency different than their local currency. These gains and losses are required by IFRS even though the revalued / devalued tax bases of the relevant assets will not result in any deduction / obligation for tax purposes in future periods Non Taxable income/ Non deductible expenses, net , includes a net tax charge of approximately $59 million booked in the last quarter of 2018 related to impact resulting from the special tax revaluation regime of fixed assets in Argentina (option granted by Law to Argentinian Tax payers). Changes in the tax rates , in 2017 it includes mainly the effect of the changes in tax rate in Argentine and US subsidiaries for approximately $46 million and $15.2 million respectively. Accrual/ Utilization of previously unrecognized tax losses , includes a deferred tax income of approximately $45 million booked in the last quarter of 2016 related to capital losses. The amount was carried forward in line with US Regulation in force and offset in 2017 capital gains.

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