45
In the process of allocating the price of the business combination to assets and liabilities, certain
intangible assets were identified, such as the "La Sexta" brand and its audiovisual operating
licence. The brand will be amortised for accounting purpose in 20 years, while the licence is
considered to be an intangible asset with an indefinite useful life.
The reconciliation of the accounting profit to the income tax expense is as follows (in thousands of
euros):
2013
2012
Accounting profit before tax
30,462
14,400
Tax charge at 30%
9,139
4,320
Tax credits earned in the year:
Audiovisual productions
Donations to not-for-profit entities
Other
(11,273)
(10,990)
(283)
-
(17,532)
(17,532)
-
-
Offset of tax losses:
Other -
Permanent differences (Note 18.2)
(1,594)
(7,971)
Total income tax expense for the year
(3,728) (21,183)
Income tax adjustments
Adjustment - difference in income tax per tax return
(278)
(278)
(279)
(279)
Total income tax expense recognised inprofit or loss
(4,006) (21,462)
The breakdown of the income tax expense for the year is as follows (in thousands of euros):
2013
2012
Current tax
(10,332) (18,385)
Deferred tax
6,604
(2,798)
Total income tax expense for the year
(3,728) (21,183)
18.5Deferred tax assets recognised
The difference between the tax charge allocated to 2013 and to prior years and the tax charge
already paid or payable for such years, which is recognised under “Deferred Tax Assets”, arose as
a result of temporary differences derived from the following:
CHANGES INDEFERRED TAX
ASSETS
Thousands of euros
2012
Additions Disposals
Other
2013
Contingencies and charges
9,609
3,217
(2,630)
551
10,747
Accounts payable
2,148
-
(955)
(540)
653
Other items
1,320
1,327
(611)
285
2,321
Tax effect of assets at fair value
9,483
-
(6,845)
(97)
2,541
Financial hedging instruments
(209)
(152)
-
(361)
Total
22,351
4,544 (11,193)
199
15,901
The detail for 2012 is as follows:
CHANGES INDEFERRED TAX
ASSETS
Thousands of euros
2011
Additions Disposals
Other
Transfers
Inclusion
due to
merger
2012
Contingencies and charges
5,960
2,508
(205)
-
(215)
1,561
9,609
Accounts payable
871
1,242
(604)
237
(95)
497
2,148
Other items
262
1,101
(272)
(81)
310
-
1,320
Tax effect of assets at fair value
-
-
(1,030)
-
-
10,513
9,483
Financial hedging instruments
(401)
192
-
-
-
-
(209)
Total
6,692
5,043 (2,111)
156
-
12,571
22,351
