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MEDIASET ESPAÑA COMUNICACIÓN, S.A. AND SUBSIDIARIES
Deferred tax assets and liabilities are recognised on the basis of the temporary differences between the carrying
amounts of the assets or liabilities and their tax bases and are measured on the basis of the tax rates that are expected
to apply in the period when the asset is realised or the liability is settled. Deferred tax assets and liabilities arising from
changes in equity are charged or credited directly to equity. Deferred tax assets and tax loss and tax credit carryforwards
are only recognised when the probability of their future realisation is reasonably assured and are adjusted subsequently
if it is not considered probable that taxable profits will be obtained in the future.
Current tax assets and liabilities are measured at the amount expected to be recovered from or paid to the tax
authorities taking the tax rates prevailing at the consolidated statement of financial position date and including any tax
adjustments from previous years.
The Group recognises deferred tax liabilities for all taxable temporary differences, except:
• When the deferred tax liability arises from the initial recognition of goodwill or of an asset or liability in a transac-
tion that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor
taxable profit or loss.
• In respect of taxable temporary differences associated with investments in subsidiaries and associates, where the
timing of the reversal of the temporary differences can be controlled by the Parent and it is probable that the
temporary difference will not reverse in the foreseeable future.
The Group recognises deferred income tax assets for all deductible temporary differences, carryforward of unused
tax credits and unused tax losses, to the extent that it is probable that taxable profit will be available against which the
deductible temporary difference, and the carryforward of unused tax credits or losses can be utilized, except:
• Where the deferred income tax relating to the deductible temporary difference arises from the initial recognition
of an asset or liability a transaction that is not a business combination and, at the time of the transaction, affects
neither the accounting profit nor taxable profit or loss.
• In respect of deductible temporary differences associated with investments in subsidiaries and associates, deferred
tax assets are recognised only to the extent that it is probable that the temporary differences will reverse in the
foreseeable future and taxable profit will be available against which the temporary difference can be utilized.
The carrying amount of deferred income tax assets is reviewed at each statement of financial position date and reduced
to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or par t of the differed
income tax asset to be utilized.The Group also reviews unrecognised deferred income tax assets at each statement of
financial position date and recognises them to the extent that it has become probable that future taxable profit will allow
the deferred tax asset to be recovered.
Deferred income tax assets and deferred income tax liabilities are offset, if a legally enforceable right exists to set off
current tax assets against current income tax liabilities and the deferred income taxes relate to the same taxable entity
and the same taxation authority.