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MEDIASET ESPAÑA COMUNICACIÓN, S.A.
NOTES TOTHE FINANCIAL STATEMENTS FOR THEYEAR ENDED DECEMBER 31, 2013
(Thousands of euros)
Deferred income tax is recognized on all temporary differences at the balance sheet date between the tax bases of
assets and liabilities and their carrying amounts. The tax base of an asset or liability is the amount attributed to it for
tax purposes.
The tax effect of temporary differences is included in “Deferred tax assets” or “Deferred tax liabilities” on the balance
sheet, as applicable.
Deferred tax liabilities are recognized for all temporary differences, except where disallowed by prevailing tax legislation.
The Company recognizes deferred tax assets for all deductible temporary differences, carryforward of unused tax
credits and unused tax losses, to the extent that it is probable that future taxable profit will be available against which
these assets may be utilized, except where disallowed by prevailing tax legislation.
For business combinations in which deferred tax assets have not been accounted for separately at initial recognition
because they do not meet the criteria, the deferred tax assets which are recognized during the measurement period
and which arise from new information regarding matters and circumstances existing at the acquisition date will
require an adjustment of the related goodwill. After the abovementioned measurement period, or as a result of new
information regarding matters and circumstances existing at the acquisition date, they are written off or recognized
directly in equity, depending on the applicable accounting policy.
At each financial year end, the Company assesses the deferred tax assets recognized and those that have not yet been
recognized. Based on this analysis, the Company derecognizes the asset recognized previously if it is no longer probable
that it will be recovered, or it recognizes any deferred tax asset that had not been recognized previously, provided that
it is probable that future taxable profit will be available against which these assets may be utilized.
Deferred tax assets and liabilities are measured at the tax rate expected to apply to the period in which they reverse,
as required by enacted tax laws and in the manner in which it reasonably expects to recover the asset’s carrying value
or settle the liability.
Deferred tax assets and liabilities are not discounted and are classified as non-current assets or non-current liabilities,
respectively.
Income and expenses
Revenue and expenses are recognized when the actual flow of the related goods and services occurs, regardless of
when the resulting monetary or financial flow arises.
Income from sales and services
Revenue is recognized according to the economic substance of the transaction.
Income is recognized when it is probable that the profit or economic benefits from the transaction will flow to the
Company and the amount of income and costs incurred or to be incurred can be reliably measured.
Revenue from the sale of goods or the rendering of services is measured at the fair value of the consideration received
or receivable stemming from those goods or services, less any discounts, rebates and similar items given by the company,
as well as indirect taxes on transactions reimbursed by third parties. Interest included in trade receivables maturing in
not more than one year that have no contractual rate of interest is included as an increase in value of the revenue,
because the effect of not discounting cash flows is not significant.
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