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Deferred tax assets & liabilities 2012 2011
Deferred tax assets: (163,867,498)
Deferred tax assets to be recovered (145,291,544) (25,804,529)
after more than 12 months
(189,672,027)
Deferred tax assets to be recovered within 12 months (28,389,688)
205,959,608
Total deferred tax assets (173,681,232)
15,478,755
Deferred tax liabilities:
221,438,363
Deferred tax liabilities to be settled 190,968,666 31,766,336
after more than 12 months
Deferred tax liabilities to be settled within 12 months 15,424,500
Total deferred tax liabilities 206,393,166
Deferred tax liabilities (net) 32,711,934
The gross movement on the deferred income tax account is as follows:
2012 2011
As at 1 January 31,766,336 33,969,703
Income statement charge 945,598 (2,203,367)
As at 31 December 32,711,934 31,766,336
The movement in deferred income tax assets and liabilities during the year, without taking into consideration the
offsetting of balances within the same tax jurisdiction, is as follows:
Accelerated Grant of Usufruct of Total
Deferred tax liabilities tax rights fee the site
depreciation
As at 1 January 2011 184,755,914 7,694,930 93,572 192,544,416
Charged/(credited) to (14,406,058) (633,127) 9,597 (15,029,588)
the income statement
170,349,856 7,061,803 103,169 177,514,828
As at 31 December 2011
(11,355,753) 487,021 9,597 (11,833,177)
Charged/(credited) to
the income statement 158,994,103 6,574,782 112,766 165,681,651
As at 31 December 2012
Retirement
benefit
Deferred tax assets Tax losses Provisions Other Total
obligations
(1,344,453)
As at 1 January 2011 (129,810,953) (4,856,070) (22,563,237) (158,574,713)
Charged/(credited) to 13,433,745 (408,085) (74,500)
the income statement (124,940) 12,826,220
(116,377,208) (5,264,155)
As at 31 December 2011 (1,418,953) (22,688,177) (145,748,493)
14,026,175 920,162
Charged/(credited) to 26,741 (2,194,302) 12,778,776
the income statement (102,351,033) (4,343,993)
(1,392,212) (24,882,479) (132,969,717)
As at 31 December 2012
Financial Statements as at 31 December 2012 (Amounts in Euros unless otherwise stated) Page 46 of 54
Deferred tax assets: (163,867,498)
Deferred tax assets to be recovered (145,291,544) (25,804,529)
after more than 12 months
(189,672,027)
Deferred tax assets to be recovered within 12 months (28,389,688)
205,959,608
Total deferred tax assets (173,681,232)
15,478,755
Deferred tax liabilities:
221,438,363
Deferred tax liabilities to be settled 190,968,666 31,766,336
after more than 12 months
Deferred tax liabilities to be settled within 12 months 15,424,500
Total deferred tax liabilities 206,393,166
Deferred tax liabilities (net) 32,711,934
The gross movement on the deferred income tax account is as follows:
2012 2011
As at 1 January 31,766,336 33,969,703
Income statement charge 945,598 (2,203,367)
As at 31 December 32,711,934 31,766,336
The movement in deferred income tax assets and liabilities during the year, without taking into consideration the
offsetting of balances within the same tax jurisdiction, is as follows:
Accelerated Grant of Usufruct of Total
Deferred tax liabilities tax rights fee the site
depreciation
As at 1 January 2011 184,755,914 7,694,930 93,572 192,544,416
Charged/(credited) to (14,406,058) (633,127) 9,597 (15,029,588)
the income statement
170,349,856 7,061,803 103,169 177,514,828
As at 31 December 2011
(11,355,753) 487,021 9,597 (11,833,177)
Charged/(credited) to
the income statement 158,994,103 6,574,782 112,766 165,681,651
As at 31 December 2012
Retirement
benefit
Deferred tax assets Tax losses Provisions Other Total
obligations
(1,344,453)
As at 1 January 2011 (129,810,953) (4,856,070) (22,563,237) (158,574,713)
Charged/(credited) to 13,433,745 (408,085) (74,500)
the income statement (124,940) 12,826,220
(116,377,208) (5,264,155)
As at 31 December 2011 (1,418,953) (22,688,177) (145,748,493)
14,026,175 920,162
Charged/(credited) to 26,741 (2,194,302) 12,778,776
the income statement (102,351,033) (4,343,993)
(1,392,212) (24,882,479) (132,969,717)
As at 31 December 2012
Financial Statements as at 31 December 2012 (Amounts in Euros unless otherwise stated) Page 46 of 54
