Total Corporate Tax Income or Expense
The Group operates in many countries and is therefore subject to different tax jurisdictions regarding taxation and corporation tax matters.
NH Hoteles, S.A. and the companies with tax domicile in Spain in which it held a direct or indirect stake of at least 75% during the 2012 tax period are subject
to the tax consolidation scheme governed by Title VII, Chapter VII of the Revised Text of the Corporation Tax Act approved by Royal Legislative Decree 4/2004
of 5 March.
The companies belonging to the tax group have signed an agreement to share out the tax burden. Hence, the Parent Company settles any credits and debts
which arise with subsidiary companies due to the negative and positive tax bases these contribute to the tax group.
During 2012, there were no changes in the scope of consolidation of the Spanish tax group.
Corporate income tax is calculated on the financial or accounting profit or loss resulting from the application of generally accepted accounted standards in
each country, and does not necessarily coincide with the tax result, this being construed as the tax base of the tax.
Spanish companies pay taxes at the general tax rate of 30% irrespective of whether they apply the consolidated or separate taxation schemes. The other
companies are subject to the prevailing tax rate in the countries where they are domiciled. In addition, taxes are booked in some countries at the estimated
minimum profit on a complementary basis to Corporate Income Tax.
The prevailing tax rates in the different jurisdictions where the Group performs relevant activities are as follows:
Country
Nominal Rate
Country
Nominal Rate
Argentina
35%
Romania
16%
Colombia
33%
Poland
19%
Chile
20%
Switzerland
15%
Panama
25%
Czech Rep.
19%
Brazil
34%
Luxembourg
28,8%
Mexico
30%
Italy
31,4%
Uruguay
25%
Netherlands
25%
Dominican Republic
25%
France
33%
Germany
33%
Portugal
25%
The reconciliation between the accounting profit or loss, the corporate income tax base, current and deferred tax for the year, is as follows:
€ Thousand
2012
2011
Spain Germany France Czech Rep. Romania Poland Switzer-
land Luxembourg Latin America
(1)
Italy
Nether-
lands (2) Portugal
TOTAL
Spanish
Companies
Other
Companies
Consolidated
profit (loss)
before tax
(307,253) (11,314)
531 (1,423)
376 47 (2,512) 2,536 (6,565)
(106,119) 39,878 223 (391,595) (59,766)
64,067
Adjustments to
accounting profit
(
loss):
Accounting
consolidation
adjustments
89,699 10,600
-
-
-
-
-
-
1,220
-
-
-
101,519
-
(7,407)
Due to permanent
differences
16,919 6,175 (538)
-
32 (2)
3,243 (3,568)
16,020 59,803 18,227 43 116,354 24,661 (24,264)
Due to temporary
differences
9,876
166
-
-
-
-
-
6
6,330
79,659 4,207
-
100,244 2,998 49,453
Tax base (Taxable
profit or loss)
(190,759) 5,627 (7)
(1,423)
408 45 731 (1,026)
17,005 33,343 62,312 266 (73,478) (32,107)
81,849
Current taxes to
be refunded /
(
to pay)
(579)
-
-
-
(5)
-
-
-
(958)
4,466 6,245 43 9,212
509
(5,531)
Total current
tax income /
(
expense)
57,228 (1,875)
2
-
(65)
(8)
(110)
295
(4,677)
(10,470) (15,578)
(67)
24,675 10,531 (7,888)
Total deferred
tax income /
(
expense)
2,963
55
-
-
-
-
-
2
1,741
25,013 1,052
-
30,826
417
3,141
Total Corporate
Tax income /
(
expense)
60,191 (1,820)
2
-
(65)
(8)
(110)
297
(2,936)
14,543 (14,526) (67)
55,501 10,948 (4,747)
(1)
The Latin America business area includes the profits and losses obtained by the Group in Argentina, Mexico, Uruguay, the Dominican Republic, Colombia, Chile, Panama and Brazil.
(2)
The Netherlands business area includes Belgium and South Africa
REPORT ON THE CONSOLIDATED
FINANCIAL STATEMENTS
97
