This income was reinvested in the acquisition of buildings.
Revenue from previous year written off for the reinvestment of extraordinary profits in accordance with the provisions set forth in Section 42 of the Revised Text of the
Corporation Tax Act is shown below (in thousands of euros).
Financial year
Date of
transmission
Revenue
deferred
Deduction
Company generating the capital
gain
Company reinvesting
Applied
Outstanding
2008
June
1,583
-
190
Gran Círculo de Madrid, S.A.
NHHotel Rallye, S.A.
The capital gains obtained in 2008 were reinvested in 2009 through the Group’s acquisition of new shares in its Italian subsidiary through NHHotel Rallye, S.A. These
shares were issued as a result of an increase of capital amounting to EUR 73 million allocated to acquire new hotels and refurbish existing hotels. There is an obligation
to maintain the investment over a three year period.
Negative tax bases
At 31 December 2013, the Consolidated Tax Group headed by NHHoteles, S.A. has the following tax loss carry-forwards:
Financial year
Thousand euros
Maturity
2007
8,992
2025
2008
20,424
2026
2009
96,752
2027
2010
61,832
2028
2011
33,444
2029
2012
190,344
2030
2013
38,011
2031
Total
449,799
NHCentral Reservation Office, S.L. (formerly Retail Invest, S.A.), Latinoamericana de Gestión Hotelera, S.A., Hoteles Hesperia, S.A., Nuevos Espacios Hoteleros, S.A,
Club Deportivo Sotogrande, S.A. and Resco Sotogrande, S.L. obtained tax losses before being incorporated in the Group headed by NHHoteles, S.A.
The amounts of the above-mentioned tax loss carry-forwards that can only offset positive results of the aforementioned companies when the Group obtains a positive
tax base, are as follows (in thousands of euros):
Year of origin
Amount
Offsetting Deadline
1997
11,107
2015
1998
4,119
2016
1999
-
2017
2000
-
2018
2001
17,713
2019
2002
19,037
2020
2003
25,900
2021
2004
8,438
2022
2005
1,491
2023
2006
15,242
2024
2007
2,332
2025
2008
2,426
2026
2009
1,567
2027
2010
960
2028
2011
245
2029
2012
1,397
2030
111,976
Italian and Spanish legislation envisages a limitation on the deductibility of finance costs. The amount of non-deductible finance costs generated in Italy and Spain to be
carried forward is as follows (in thousands of euros):
REPORT ONTHE CONSOLIDATED FINANCIAL STATEMENTS
96
