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16.6 Deferred tax liabilities recognised
The detail of “Deferred Tax Liabilities" and of the changes therein is as follows:
DEFERRED TAX
LIABILITIES
2013 Additions Reductions
Effect
of the
change
in the
tax rate
2014 Additions Reductions 2015
Tax effect of identification of intangible assets 22,649
-
(237)
(3,712) 18,700
-
(221) 18,479
Total
22,649
-
(237) (3,712) 18,700
-
(221) 18,479
In accordance with income tax recognition and measurement standard number 13, the Company
will recognise the deferred tax liabilities relating to goodwill provided that these do not arise on the
initial recognition thereof.
The deferred tax liabilities relate to the identification of the "La Sexta" brand and signal
transmission licence. The brand is amortised for accounting purposes at an annual rate of 5%
(amortisation charge for 2015: EUR 791 thousand), while the licence is not amortised.
The amortisation is not deductible for tax purposes and, therefore, gives rise to a positive
adjustment to the taxable profit (tax loss) which is recognised as a deferred tax liability.
16.7 Years open for review and tax audits
Under current legislation, taxes cannot be deemed to have been definitively settled until the tax
returns filed have been reviewed by the tax authorities or until the four-year statute-of-limitations
period has expired. At 31 December 2015, the Company had from 2010 open to review for all the
taxes applicable to it.
The Company's directors consider that the tax returns for the aforementioned taxes have been
filed correctly and, therefore, even in the event of discrepancies in the interpretation of current tax
legislation in relation to the tax treatment afforded to certain transactions, such liabilities as might
arise would not have a material effect on the accompanying financial statements.
17.- Foreign currency balances and transactions
The detail of the most significant balances and transactions in foreign currency, valued at the year-
end exchange rate and the average exchange rates for the year, respectively, is as follows (in
thousands of euros):
2015
2014
Accounts receivable
1,141
990
Accounts payable
167,858
182,131
Sales
-
-
Purchases
139,891
131,750