Company: TCMFF
Filing Date: 2025-05-19
Form Type: 6-K
Source: 0001104659-25-050264
Chunk: 11

Company: TELECOM ARGENTINA SA
Filing Date: 2025-05-19
Form: 6-K
Chunk 11
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% on a year-over-year comparison for 2024. See Note 2.1.b) of the TMA Financial
Statements for further information.

The financial information
issued for comparative purposes must also be presented in the current currency as of December 31, 2024, and must be restated using
the annual index of the current year.

Income Tax Inflation Adjustment

In accordance with the provisions
of Title VI of the Income Tax Law, TMA applies (i) the income tax inflation adjustment since the fiscal year ended December 31,
2019, and (ii) updates on cost of assets in case of disposal and of computable depreciation to all acquisitions or investments made
in fiscal years beginning January 1, 2018.

The legal tax rate in effect from the 2021 period consists of a scale whose amounts will be adjusted annually, starting on January 1, 2022, based on the annual variation of the CPI provided by the Instituto Nacional de Estadísticas y Censos (the National
Statistics and Census Institute, or “INDEC”).

On the basis of relevant case law, TASA challenged the decision of theAdministración Federal de Ingresos Públicos
(the former Argentine federal tax authority, or “AFIP”, dissolved by Decree No. 953/24, published on October 25,
2024, and replaced by the Agencia de Recaudación y Control Aduanero, or “ARCA”) to deny its request to apply
the tax inflation adjustment and deduct the updated depreciation and amortization charges for the fiscal years 2008 through 2014. From
the 2015 fiscal year through the 2019 fiscal year, TASA applied the tax inflation adjustment and deducted updated depreciation and disposal
costs of property, plant & equipment and intangibles in its tax filings. TASA obtained final favorable judicial rulings in respect
of the fiscal years 2008 through 2013 and fiscal years 2015 and 2017. The judicial actions in respect of the remaining fiscal years are
still in appeal stages.

In light of the above, from
the 2019 fiscal year through the 2023 fiscal year, TMA deducted updated depreciation and disposal costs of property, plant &
equipment and intangibles in its tax filings. The use of these adjustments was initially rejected by ARCA, and thus TMA challenged the
constitutionality of ARCA’s decisions for each of the fiscal years. These challenges are still