Company: TNRSF
Filing Date: 2025-02-21
Form Type: 6-K
Source: 0001171843-25-000987
Chunk: 63

Company: TENARIS SA
Filing Date: 2025-02-21
Form: 6-K
Chunk 63
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 Utilization of previously unrecognized tax losses |     |                         |       588 |   |     |     |        787 |   |     |     |    29,560 |   |
| Tax revaluation, withholding tax and others       |     |                         |   483,789 |   |     |     |    796,723 |   |     |     |   249,539 |   |
| Tax charges                                       |     |                         |  (479,680 | ) |     |     |   (674,956 | ) |     |     |  (617,236 | ) |

| - 42 - |

| Consolidated Financial Statements                                                                           |
| For the years ended 2024, 2023 and 2022 - all amounts in thousands of U.S. dollars, unless otherwise stated |

Effect of currency translation on tax base: Tenaris applies the
liability method to recognize deferred income tax on temporary differences between the tax bases 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 change in the value on the tax bases 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 bases of the
relevant assets will not result in any deduction / obligation for tax purposes in future periods.

Changes in the tax rates:For the year 2024, the effect relates
to the impact of the reduction in Luxembourg's corporate income tax rate that made the blended tax rate for a company registered in Luxembourg
Ville decrease from 24.94% to 23.87%. The new blended tax rate is applicable for fiscal years beginning on or after January 1, 2025, but
its effect over temporary differences is recognized in 2024.

Tax revaluation, withholding tax and others: Includes a positive
effect from inflationary tax adjustments in Argentina and Mexico of $368.2 million, $349.0
million and $250.4 million for the years 2024, 2023 and 2022, respectively. It also includes a charge
of $20.0 million, $164.3 million and $21.0
million for the years 2024, 2023 and 2022, respectively related to withholding taxes for intra-group international operations