70 / 148
61
The tax credit earned at Group level in this connection is EUR 820 thousand and was credited
to "Adjustments to Income Tax".
In 2014 the Group acquired ownership interests of 40% and 14% in the Enelmar Productions
economic interest grouping (EIG) and Producciones Ramsés economic interest grouping (EIG),
respectively.
In view of the particular nature of income taxation of EIGs (including the assignation of tax
credits and tax losses to the partners), deferred tax assets amounting to EUR 10,724 thousand
were generated at the Group.
Under Transitional Provision 37 of the Spanish Corporation Tax Law 27/2014, companies
subject to the limit on the depreciation and amortisation charge established in Article 7 of Law
16/2012, of 27 December, adopting various tax measures aimed at shoring up public finances
and boosting economic activity, will be entitled to a tax credit, to be deducted from the gross
tax payable, of 5% of the taxable profit, arising from the depreciation and amortisation not
deducted in the tax periods commencing in 2013 and 2014.
The tax credit earned at the Company in this connection is EUR 820 thousand and was
credited to "Adjustments to Income Tax".
Of the total tax credits, EUR 120 thousand were not recognised.
The changes in “Deferred Tax Liabilities” were as follows:
DEFERRED TAX LIABILITIES
Thousands of euros
Balance at
31/12/11
Additions Disposals
Balance at
31/12/12
Additions Disposals
Other
Tax Effect
Balance at
31/12/13
Recognition of intangible assets at fair
value
31,238
-
(324)
30,914
-
(324)
-
(5,051)
25,539
Grants
250
-
(191)
59
-
(48)
96
(13)
94
Amortisation of merger goodwill
-
372
-
372
297
-
(76)
(129)
464
Total
31,488
372
(515)
31,345
297
(372)
20 (5,193) 26,097
“Hedging Instruments” in the “Deferred Tax Assets” table is not included in the temporary
differences or deferred tax assets in the tables in Note 22-c) since for tax purposes they are
recognised directly in equity.
The “Recognition of Intangible Assets at Fair Value” deferred tax liability relates to the
temporary difference arising as a result of the difference between the carrying amount and the
tax base of the identified trademark and signal broadcasting licence (IAS 12).
The trademark is amortised for accounting purposes at a rate of 5%, the amortisation charge
in 2014 being EUR 1,079 thousand.
The amortisation is not deductible for tax purposes and, therefore, gives rise to a positive
adjustment to the taxable profit which is recognised as a deferred tax liability.
The different interpretation provided under International Financial Reporting Standards, as
compared with local accounting standards, in relation to the recognition of intangible assets at
fair value, gives rise to a greater deferred tax liability under IFRSs than that recognised in
accordance with the Spanish National Chart of Accounts, to which the income tax legislation is
not applicable.