The reconciliation between the accounting profit or loss, the corporation tax base, current and deferred tax for the year, is as follows:
Thousandeuros
2013
2012
Spain Germany France CzechRep. Romania Poland Switzer-
land Luxembourg LatinAmerica
(1)
Italy Netherlands
(2)
Portugal
TOTAL Spanish
Companies
Other
Companies
Consolidatedprofit
(
loss)before tax
(125.754) 1.247 (589) (112)
168 50 584 7.680
7.528 5.169 71.001 191 (32.837) (307.330) (84.342)
Adjustments to
accounting profit
(
loss):
-
-
Accounting
consolidation
adjustments
22,770 2,750 -
-
-
-
-
-
7,224
-
-
-
32,744 89,699 11,820
Due topermanent
differences
40,433 (1,648) 281
-
206 -
467 (7,274)
(2,379)
8,301
-
(23) 38,364 16,919 99,435
Due to temporary
differences
22,618 380
-
-
-
(2)
-
49
18,720 (10,019) 5,678 -
37,424 9,876 90,368
Taxbase(Taxable
profitor loss)
(39,933) 2,729 (308) (112)
374 48 1,051
455
31,093 3,451 76,679 168 75,695 (190,836) 117,281
Current taxes tobe
refunded/(topay)
(194)
-
(102)
-
20 1
-
-
332
4,890 (2,377) (3)
2,567 (579)
9,791
Totalcurrent tax
income/(expense)
387 (819)
103
-
(60) (10) (82)
(133)
(8,551) (1,084) (15,576) (53) (25,878) 57,228 (32,553)
Totaldeferred tax
income/(expense)
(7,827)
114
-
-
-
-
-
14
5,148 (3,907) 26,870 -
20,412 2,963 27,863
TotalCorporation
Tax income/
(
expense)
(7,440) (705)
103
-
(60) (10) (82)
(119)
(3,403) (4,991) 11,294 (53) (5,466)
60,191
(4,690)
(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.
Financial years subject to tax inspection
In accordance with Spanish tax legislation, the years open for review to the Consolidated Tax Group are:
Tax
Pending Periods
Corporation Tax
2008
a 2012
VAT
2010
a 2013
Personal Income Tax
2010
a 2013
Others
2010
a 2013
In relation to the years open for review, there might be contingent tax liabilities which cannot be objectively quantified which, in the opinion of the Group’s directors,
would not be material.
Write-offs applied by the consolidated tax group of the Parent Company
The deductions generated during the year are essentially due to double taxation.
At 31 December 2013, the Tax Group held the following tax incentive carry-forwards (in thousands of euros):
Year of Origin
Deduction pending application
Amount
2002
to 2010
Investment in export activity
29,047
2006
to 2013
Tax deduction to avoid double taxation
15,941
2002
to 2013
Other
475
45,463
Similarly, the consolidated tax group of the Parent Company took advantage in prior years of the “Deferral of extraordinary profits for reinvestment” scheme. The
essential characteristics of such reinvestment are as follows (in thousands of euros):
Amount offset
Year of origin
Revenue Qualifying for
deferral
Previous years
Year 2013
Amount Outstanding
Last year of deferral
1999
75,145
50,075
682
24,388
2049
REPORT ONTHE CONSOLIDATED FINANCIAL STATEMENTS
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