Page 66 - MEDIASET ESPAÑA / 2012. Financial Statements, Management and Corporate Governance Report

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MEDIASET ESPAÑA COMUNICACIÓN, S.A.
15.TAXES
Under prevailing tax regulations, tax returns may not be considered final until they have either been inspected by tax
authorities or until the four-year inspection period has expired.The Company is open to inspection of all taxes to which
it is liable for the last four years. Once the SpanishTax Authorities’Tax and Customs Control Department of the Central
Office of Major Tax Payers had performed its verifications and investigations in 2009 (as explained in the above note),
the Company has the following items and years open to inspection:
Item(s) Periods
Income tax 2008 to 2012
Value added tax 2009 to 2012
Wit holding, non-resident income tax 2009 to 2012
Gaming tax: 06/2008 to 2012
Taxes on games of luck, betting, and chance: raffles and tombola 06/2008 to 2012
Annual transaction statement 2008 to 2012
Consolidated statement of intra-regional delivery and acquisition of assets 2009 to 2012
The SpanishTax Authorities’Tax and Customs Control Department of the Central Office of MajorTaxpayers is currently
performing its verifications and investigations on the following items:“Taxes on games of luck, bets, or chance: raffles and
tombolas” as well as “Gaming tax: bets and promotional draws” for June, 2008 to December 2011; the final result is still
pending at the date of these financial statements.
If, once the inspection has finalized, a regulation is proposed which surpasses the related provisioned risks and
contingencies, it will in any case refer to Company transactions carried out in close observance of the criteria established
by the tax authorities (more specifically the inspectors) arising from previous inspections and related to the same items
and transactions identical in nature. Thus, should such a situation arise, there are solid arguments in the Company’s
defense for applying the above criteria in both lawsuits and appeals, and consequently obtaining favorable outcomes.
Based on the best interpretation of current legislation, the Company’s directors and tax advisors consider that in the
event of a tax inspection, no significant tax contingencies would arise as a result of varying interpretations of the tax
legislation applicable to the Company’s transactions. Therefore, the accompanying balance sheet does not include a
provision for this contingency.
Value Added Tax
In 2010, the Company has filed consolidated tax as regulated by Chapter IX,Title IX of Law 37/1992. As a result, it has
presented consolidated VAT for tax group 049/99, which comprises:
• Mediaset España Comunicación, S.A., as the parent
• Telecinco Cinema, S.A.U.
• Publiespaña, S.A.U.
• Mediacinco cartera, S.L.