Income Tax (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax [Abstract]

Analysis of deferred tax assets and liabilities

As of December 31, 2022, and 2021, the analysis of deferred tax assets and deferred tax liabilities is as follows:

Deferred tax assets	Balance as of December 31,
From	2022		2021
Net operating loss carryforwards (“NOL´s”)		442,415		323,115
Temporary tax non-deductible expenses		134,328		128,186
Derivatives financial instruments		3,461		55,217
Other		5,895		4,225
Total deferred tax assets		586,099		510,743

Deferred tax liabilities	Balance as of December 31,
From	2022		2021
Accelerated tax amortization		524,363		465,219
Other difference between tax and book value of assets		186,536		180,218
Derivatives financial instruments		19,034		-
Other		2,991		1,897
Total deferred tax liabilities		732,924		647,334

Consolidated balance sheets classifications

After offsetting deferred tax assets and deferred tax liabilities, where applicable, the resulting net amounts presented on the consolidated balance sheet are as follows:

Consolidated balance sheets classifications	Balance as of December 31,
	2022		2021
Deferred tax assets		149,656		172,268
Deferred tax liabilities		296,481		308,859
Net deferred tax liabilities		146,825		136,591

Movements in deferred tax assets and liabilities

The movements in deferred tax assets and liabilities during the years ended December 31, 2022 and 2021 were as follows:

Deferred tax assets	Amount
As of December 31, 2020		152,290
Increase/(decrease) through the consolidated income statement		46,855
Increase/(decrease) through other consolidated comprehensive income (equity)		(23,712	)
Business combinations (Note 5)		4,410
Currency translation differences and other		(7,575	)
As of December 31, 2021		172,268
Increase/(decrease) through the consolidated income statement		29,197
Increase/(decrease) through other consolidated comprehensive income (equity)		(46,344	)
Currency translation differences and other		(5,465	)
As of December 31, 2022		149,656

Deferred tax liabilities	Amount
As of December 31, 2020		260,923
Increase/(decrease) through the consolidated income statement		32,059
Business combinations (Note 5)		4,910
Currency translation differences and other		10,967
As of December 31, 2021		308,859
Increase/(decrease) through the consolidated income statement		(19,864	)
Increase/(decrease) through other consolidated comprehensive income (equity)		17,608
Currency translation differences and other		(10,122	)
As of December 31, 2022		296,481

Income tax expense

Details of income tax for the years ended December 31, 2022, 2021 and 2020 are as follows:

	For the year ended December 31,
	2022			2021			2020
Current tax		(39,372	)		(51,016	)		(21,205	)
Deferred tax		49,061			14,796			(3,672	)
-    relating to the origination and reversal of temporary differences		49,061			14,796			(3,672	)
Total income tax (expense)/income		9,689			(36,220	)		(24,877	)

Effective income tax rate reconciliation

The reconciliation between the theoretical income tax resulting from applying an average statutory tax rate to profit before income tax and the actual income tax expense recognized in the consolidated income statements for the years ended December 31, 2022, 2021, and 2020, is as follows:

	For the year ended December 31,
	2022			2021			2020
Consolidated profit/(loss) before taxes		(11,776	)		25,302			41,751
Average statutory tax rate		25	%		25	%		25	%
Corporate income tax at average statutory tax rate		2,944			(6,326	)		(10,438	)
Income tax of associates, net		5,366			3,076			128
Differences in statutory tax rates		(4,296	)		(3,359	)		(94	)
Unrecognized NOLs and deferred tax assets		(10,944	)		(11,232	)		(37,183	)
Purchase of Liberty Interactive’s equity interest in Solana		-			-			36,352
Other permanent differences		3,957			(4,052	)		(8,895	)
Other non-taxable income/(expense)		12,662			(14,327	)		(4,747	)
Corporate income tax		9,689			(36,220	)		(24,877	)