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Note 8 - Income Tax | 12 Months Ended
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Dec. 31, 2020
Major components of tax expense (income) [abstract] |
Note 8 - Income Tax | 8 Income t ax
|  | Year ended December 31, |
(all amounts in thousands of U.S. dollars) |  | 2020 |  |  | 2019 |  |  | 2018 |
Current tax |  |  | (121,048 | ) |  |  | (299,692 | ) |  |  | (343,104 | )
Deferred tax |  |  | 97,898 |  |  |  | 97,240 |  |  |  | 113,897 |
Tax charge |  |  | (23,150 | ) |  |  | (202,452 | ) |  |  | (229,207 | )
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) |  | 2020 |  |  | 2019 |  |  | 2018 |
(Loss) Income before income tax |  |  | (619,267 | ) |  |  | 933,710 |  |  |  | 1,103,107 |
Less Impairment charges (non deductible) |  |  | 622,402 |  |  |  | - |  |  |  | - |
Income before income tax without impairment charges |  |  | 3,135 |  |  |  | 933,710 |  |  |  | 1,103,107 |
Tax calculated at the tax rate in each country |  |  | 21,052 |  |  |  | (186,752 | ) |  |  | (207,422 | )
Effect of currency translation on tax base |  |  | (72,936 | ) |  |  | (53,296 | ) |  |  | (77,552 | )
Changes in the tax rates |  |  | (958 | ) |  |  | 13 |  |  |  | (1,824 | )
Utilization of previously unrecognized tax losses |  |  | 98 |  |  |  | 547 |  |  |  | - |
Tax revaluation, withholding tax and others |  |  | 29,594 |  |  |  | 37,036 |  |  |  | 57,591 |
Tax charges |  |  | (23,150 | ) |  |  | (202,452 | ) |  |  | (229,207 | )
Effect of currency translation on tax base, Tenaris applies the liability method to recognize deferred income tax on temporary differences between the tax base s of assets / liabilities 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 cha nge in the value on the tax base s 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 base s of the relevant assets will not result in any deduction / obligation for tax purposes in future periods. Tax revaluation, withholding tax and others, includes a net tax income of $61 million, $66 million and $65 million for 2020, 2019 and 2018 respectively related to the tax revaluation regime s in Argentina and Mexico. I t also includes a charge of $10 million, $34 million and $26 million for 2020, 2019 and 2018 respectively related to withholding taxes for intra-group international operations.

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- Definition The entire disclosure for income taxes. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 12 -IssueDate 2019-01-01 -Section Disclosure -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=12&code=ifrs-tx-2019-en-r&doctype=Standard&dita_xref=IAS12_g79-88_TI -URIDate 2019-03-27 + Details
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