Page 34 - MEDIASET ESPAÑA / 2013. Financial Statements, Management and Corporate Governance Report

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MEDIASET ESPAÑA COMUNICACIÓN, S.A.
NOTES TOTHE FINANCIAL STATEMENTS FOR THEYEAR ENDED DECEMBER 31, 2013
(Thousands of euros)
Non-monetary items measured at fair value are translated at the exchange rate prevailing when the fair value is
determined.When a gain or loss on a non-monetary item is recognized directly in equity, any exchange component of
that gain or loss is recognized directly in equity. Conversely, when a gain or loss on a non-monetary item is recognized
in profit or loss, any exchange component of that gain or loss is recognized in the income statement.
Income tax
Since 1999, the Company has filed its income tax return on a consolidated basis with two of its subsidiaries: Grupo
Editorial Tele 5, S.A.U. and Estudios Picasso Fábrica de Ficción, S.A.U. In 2000, Agencia de Televisión Latinoamericana de
Servicios y Noticias España, S.A.U., Agencia de Televisión Latinoamericana de Servicios y Noticias Andalucía S.A., and
Agencia deTelevisión Latinoamericana de Servicios y Noticias Levante S.A. were included in the consolidated tax group.
In 2001, Digitel 5 Media, S.A.U. was included.
In 2002, Agencia de Televisión Latinoamericana de Servicios y Noticias Galicia, S.A. and Agencia de Televisión
Latinoamericana de Servicios y Noticias Cataluña, S.A.U. were included.
In 2004, Micartera Media, S.A.U. was included.
In 2004, due to the merger by absorption of Agencia deTelevisión Latinoamericana de Servicios y Noticias Andalucía S.A.,
Agencia de Televisión Latinoamericana de Servicios y Noticias Levante S.A., and Agencia de Televisión Latinoamericana
de Servicios y Noticias Galicia, S.A. into Agencia de Televisión Latinoamericana de Servicios y Noticias Cataluña, S.A.U.,
which subsequently changed its business name to Atlas Media, S.A.U., the acquirees ceased to exist.
In 2005, Publiespaña, S.A.U., Publimedia Gestión, S.A.U., and Advanced Media, S.A.U. were included.
In 2006, Digitel 5 Media, S.A.U. was excluded, since a resolution had been passed in July 2006 to dissolve and liquidate it.
In 2007, Mediacinco Cartera, S.L. was included and Estudios Picasso Fábrica de Ficción, S.A.U. changed its company name
toTelecinco Cinema, S.A.U.
In 2008, Conecta 5 Telecinco, S.A.U. was included.
In 2009, Canal Factoria de Ficción, S.A.U. was included.
In 2010,Advanced Media, S.A.U. was excluded as on March 25, 2010 it was agreed to dissolve and liquidate the company.
In 2011, Sogecable Media, S.L.U and Sogecable Editorial, S.L.U. were included. As a result of the merger of Agencia de
Televisión Latinoamericana de Servicios and Noticias España, S.A.U., they no longer form part of the tax group.
Premiere Megaplex, S.A.U. was included in 2012; due to their dissolution and liquidation, Atlas Media, S.A.U., Mi Cartera
Media, S.A.U., and Canal Factoría de Ficción, S.A.U. were excluded.
In 2013, Integración Transmedia, S.A.U. was included.
Income tax expense for the year is calculated as the sum of current tax resulting from applying the corresponding
tax rate to taxable profit for the year, less any applicable rebates and tax credits, taking into account changes during
the year in recognized deferred tax assets and liabilities. The corresponding tax expense is recognized in the income
statement, except when it relates to transactions recognized directly in equity, in which case the corresponding tax
expense is recognized in equity, and in business combinations in which is recorded as other assets and liabilities of the
acquired business.