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The Group has the last four years open to inspection of all other applicable taxes, Based on the best interpretation of current legislation, the Parent’s directors and tax advisors consider that in the event of a tax inspection, no signifcant tax contingencies would arise as a result of varying interpretations of the tax legislation applicable to the Group’s transactions.

19.3. Balances relating to Public Authorities

The breakdown of balances relating to Public Authorities is as follows:

Balance at 31.12.10 Balance at 31.12.09

Value Added Tax Liability 10,490 6,093

Personal income tax withholdings 3,761 2,087

Payable to Social Security 1,880 1,176

Other public entities 20,361 280

Payable to tax authorities 36,492 9,636

Balance at 31.12.10 Balance at 31.12.09

Deferred Tax Assets 154,049 108,215

Income Tax receivable 1,328 5,660

VAT receivable 101 2,434

Other tax receivables 19 5

Receivable from tax authorities 120 2,439

As a result of Law 8/2009 on the Financing of Radio Televisión Española and the defnitive procedure for calculating, declaring and paying the amount developed in Royal Decree 1004/2010 of 5 August, which implemented Law 8/2009 and ITC order/2373/2010 of 9 September approving the statements and prepayments set out in Law 8/2009, the amount corresponding to 3% of the Company’s gross operating income billed is recognised under “Other public entities”, At 31 December 2010, the outstanding balance was EUR 19,921 thousand.

19.4. Income tax reconciliation

The reconciliation of net income and expenses for the year with tax results is as follows:

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Gestevisión Telecinco, S.A. AND SUBSIDIARIES