Company: CTTRF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001292814-25-001765
Chunk: 377

Company: Controladora Vuela Compania de Aviacion, S.A.B. de C.V.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 19
Chunk 377
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an accrued basis. MITL requires taxable profit to be determined by considering revenue net of tax deductions. Prior years’ tax losses
can be utilized to offset current year taxable income. Income tax is determined by applying the30% rate on the net amount after tax losses
utilization. For tax purposes, income is considered taxable at the earlier of: (i) the time the revenue is collected, (ii) the service
is provided or (iii) the time of the issuance of the invoice. Expenses are deductible for tax purposes generally on an accrual basis,
with some exceptions, once the requirements established in the tax law are fulfilled.

Central America (Guatemala, Costa Rica and El Salvador)

According to “ GITL,”
under the regime on profits from business activities, net operating losses cannot offset taxable income in prior or future years. For
the years ended December 31, 2024, 2023 and 2022, our subsidiary in Guatemala generated tax profit (loss) of US$966,
US$ 623( 10, respectively.

According to “ CRITL,” under the regime on profits
from business activities, tax losses can offset taxable income in a term of three years. For the years ended December 31, 2024, 2023 and
2022, our subsidiary in Costa Rica generated net operating profit (loss) for an amount of US$558, US$( 9,503and US$3,869, respectively.
Regarding operating loss, nodeferred tax asset has been recognized.

According to “ ESITL,” under the regime on profits
from business activities, net operating losses cannot offset taxable income in prior or future years. For the years ended December 31, 2024, 2023 and 2022, our subsidiary in El Salvador generated net operating gain for an amount of US$35,809,
US$3,245and US$17,078, respectively.

e) An analysis of consolidated deferred taxes is as follows:

  Schedule of consolidated deferred taxes                                                                     
                                                                         As of December 31,                   
                                                                                       2024             2023  
  Deferred income tax assets:                                                                                 
  Lease liability                                                               US$ 871,608      US$ 899,011  
  Unearned transportation revenue                                                    14,440           13,392  
  Aircraft and engine lease return obligation                                        98,933           86,696  
  Tax losses available for offsetting against future taxable income                     234           39