64
c) Reconciliationof the accountingprofit to the taxable profit
The reconciliation of the accounting profit to the taxable profit for income tax purposes for
2013 and 2012 is as follows:
Thousands of euros
2013
2012
Accounting profit after tax
46,054
31,887
Income tax
1,753
(19,983)
Permanent differences –
7,312
(13,179)
Temporary differences –
(18,751)
8,083
Offset of prior years' tax losses
(5,172)
(15)
Taxable profit
31,196
6,793
Tax rate
30.00%
30.00%
Gross tax payable
9,359
2,038
Tax credits used in 2013
(3,002)
(640)
2013 tax prepayments
(7,004)
(1,964)
Tax payable (refundable)
(647)
(566)
The 2013 temporary differences include additions of EUR 24,038 thousand and reductions of
EUR 42,789 thousand (see Note 22-e).
Additions break down into deferred tax assets of EUR 23,247 thousand and deferred tax
liabilities of EUR 791 thousand, while reductions include deferred tax assets of EUR 41,550
thousand and deferred tax liabilities of EUR 1,239 thousand.
d) Tax receivables andpayables
The detail of the tax receivables and payables at 31December 2013 and 2012 is as follows:
Thousands of euros
2013
2012
NON-CURRENTASSETS
Deferred tax assets (Note 22-e)
20,456
26,043
Tax loss carryforwards (Note 22-g)
221,363
221,793
Unused tax credits and tax relief
85,364
74,703
327,183
322,539
CURRENTASSETS
Income tax refundable
911
1,188
2013 income tax refundable (Note 22-c)
647
566
Other tax receivables
26
4
VAT refundable
2,906
7,107
4,490
8,865
Total tax receivables
331,673
331,404
OTHERNON-CURRENT LIABILITIES
Deferred tax liabilities (Note 22-e)
31,345
31,488
CURRENT LIABILITIES
Tax withholdings payable
4,044
4,236
Accrued social security taxes payable
1,881
1,681
VAT payable
9,815
7,681
15,740
13,598
Total tax payables
47,085
45,086
