Company: TCMFF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001104659-25-019133
Chunk: 330

Company: TELECOM ARGENTINA SA
Filing Date: 2025-02-28
Form: 20-F
Item: Item 18
Chunk 330
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 the income tax due would have absorbed 100% of the Company’s taxable income and would have even absorbed part of the equity value that generates said taxable income, yielding an effective tax rate of 146.6%.This would have exceeded any reasonable limits to the burden of taxation, thus qualifying as confiscatory and seriously infringing Telecom’s constitutional guarantees and rights.
Therefore, together with its income tax return for the fiscal year 2021, the Company made a filing with the AFIP, protected by tax secrecy procedural regulations, in order to safeguard its rights, in the spirit of transparency that guides Telecom’s actions.
As a consequence of the foregoing, the income tax due for the year 2022 includes a decrease of $7,517 million ($85,553 million in current currency as of December 31, 2024), assessed taking into account the weighted probability of occurrence, based on the above-mentioned judicial precedents.
The Company’s Management, with the assistance of its tax advisors, believes that the arguments presented by the Company in its filing with the AFIP follow the same criteria as those disclosed under “Income Tax – Reimbursement Claims filed with the Tax Authority” which were considered by the Supreme Court of Justice in the precedents cited above, among others. Therefore, the Company believes that it has strong grounds to defend the criteria applied.

F-

TELECOM ARGENTINA S.A.

Regarding 2024 tax period, the income tax provision has been calculated following the guidelines indicated in the first paragraph. This, taking into account that the relationship that arises between the tax determined without the full application of the aforementioned adjustment mechanisms for tax inflation and the true taxable result for the year, causes the application of an effective tax rate for the year 2024 that is confiscatory according to case law.
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NOTE 16 –OTHER TAXES PAYABLES
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            ​                ​      ​        ​        ​   
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​                            ​          As of December 31,
Current                      2024          2023           
Other national taxes         ​    77,841   ​        72,284
Provincial taxes             ​     8,320   ​         9,064
Municipal taxes              ​     4,501   ​         3,902
​                            ​    90,662   ​        85,250
Non- current                 ​         ​   ​             ​
Provincial taxes             ​         2   ​            24
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