The movements in deferred tax liabilities during 2013 were as follows:
Thousand euros
2013
2012
Opening balance
233,939
246,204
Changes in the scope of consolidation due to asset disposals (Note 2.5.5)
(8,915)
-
Others
(23,799)
(12,265)
Ending balance
201,225
233,939
The disposals made in 2013 relate mainly to the adaptation of tax liabilities associated with accounting revaluations at the expected effective tax rate.
The detail, by country and item, of these deferred taxes is as follows:
Thousand euros
Tax credits
Prepaid Taxes
Total Assets
Liabilities
Spain
134,984
38,324
173,308
64,861
Italy
4,329
7,215
11,544
117,469
Germany
-
3,700
3,700
1,077
Others
735
9,495
10,230
17,818
Total
140,048
58,734
198,782
201,225
Company tax expenses
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 a tax domicile in Spain in which it held a direct or indirect stake of at least 75% during the 2013 tax period is subject to the
tax consolidation scheme governed by Chapter VII, Title VII of the Revised Text of the Company Tax Act approved by Royal Legislative Decree 4/2004 of 5March.
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.
In 2013 two entities were included in the Spanish tax group consolidation perimeter.
Company tax is calculated on the economic 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.
The Spanish Companies pay taxes at the general tax rate of 30% irrespective of whether they apply the consolidated or separate taxation schemes. The remaining
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 Corporation 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
(1)
35%
Romania
16%
Colombia
(1)
34%
Poland
19%
Chile
20%
Switzerland
7.80%
Panama
25%
Czech Rep.
19%
Brazil
34%
Luxembourg
29.20%
Mexico (1)
30%
Italy
31.40%
Uruguay
25%
Netherlands
25%
Czech Republic
25%
France
33%
Germany
30%
Portugal
31.50%
(1)
Jurisdictions in which there is a minimum taxable income..
REPORT ONTHE CONSOLIDATED FINANCIAL STATEMENTS
94
