Company: TNRSF
Filing Date: 2025-02-21
Form Type: 6-K
Source: 0001171843-25-000987
Chunk: 29

Company: TENARIS SA
Filing Date: 2025-02-21
Form: 6-K
Chunk 29
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ories,
depreciation on property, plant and equipment, valuation of inventories, provisions for post-employment benefits and other long-term employee
benefits and fair value adjustments of assets acquired in business combinations. However, deferred tax liabilities are not recognized
if they arise from the initial recognition of goodwill. Deferred tax assets and liabilities are measured at the tax rates that are expected
to apply to the period when the asset is realized or the liability is settled, based on tax laws that have been enacted or substantively
enacted by the end of the reporting period.

Management periodically evaluates positions taken in tax returns with respect
to situations in which applicable tax regulation is subject to interpretation and considers whether it is probable that a taxation authority
will accept an uncertain tax treatment. The Company measures its tax balances either based on the most likely amount or the expected value,
depending on which method provides a better prediction of the resolution of the uncertainty.

Deferred tax assets are recognized to the extent that it is probable that
future taxable profits will be available against which the temporary differences and losses can be utilized. At the end of each reporting
period, Tenaris reassesses unrecognized deferred tax assets. Tenaris recognizes a previously unrecognized deferred tax asset to the extent
that it has become probable that future taxable income will allow the deferred tax asset to be recovered.

Deferred tax assets and liabilities are not recognized for temporary differences
arising from the carrying amount and tax basis of investments in subsidiaries, branches and associates, and interests in joint ventures,
if the Company is able to control the timing of the reversal of the temporary differences and it is probable that the differences will
not reverse in the foreseeable future.

Deferred tax assets and liabilities are offset when there is a legally
enforceable right to offset current tax assets and liabilities and when the deferred tax balances relate to the same taxation authority.
Current tax assets and tax liabilities are offset where the entity has a legally enforceable right to offset and intends either to settle
on a net basis, or to realize the asset and settle the liability simultaneously.

Deferred tax assets and liabilities are re-measured if tax rates change.
These amounts are charged or credited to the Consolidated Income Statement or to the item Other comprehensive incomein the Consolidated
Statement of Comprehensive Income, depending on the account to which the original amount was charged or credited.

On December 20, 2023, Pillar Two legislation was adopted in Luxembourg,
and came into effect as from January 1, 2024. The group is within the scope of these rules