BANCO BILBAO VIZCAYA ARGENTARIA, S.A. AND ... - BBVA

21.3 RECONCILIATION
The reconciliation of the corporate tax expense resulting from the application of the standard tax rate and the
expense registered by this tax in the accompanying consolidated income statements is as follows:
Reconciliation of the Corporate Tax Expense Resulting from the
Applicarion of the Standard Rate and the Expense Registered by
this Tax
Millions of Euros
June
2010
June
2009
Corporation tax (*) 1,096 1,201
Decreases due to permanent differences:
Tax credits and tax relief at consolidated Companies (89) (139)
Other items net (58) (155)
Net increases (decreases) due to temporary differences 168 (373)
Charge for income tax and other taxes 1,117 534
Deferred tax assets and liabilities recorded (utilized) (168) 373
Income tax and other taxes accrued in the period 949 907
Adjustments to prior years' income tax and other taxes (8) 54
Income tax and other taxes 941 961
(*) 30% Tax Rate.
The effective tax rate the six-month period ended June 30, 2010 and 2009 is as follows:
Effective Tax Rate
Millions of Euros
June
2010
June
2009
Income from:
Consolidated Tax Group 1,751 2,023
Other Spanish Entities (43) (51)
Foreign Entities 1,943 2,031
Total 3,651 4,003
Income Tax 941 961
Effective Tax Rate 25.77% 24.01%
21.4 TAX RECOGNIZED IN TOTAL EQUITY
In addition to the income tax recognized in the accompanying consolidated income statements, the Group
has recognized the following amounts for these items in its consolidated equity as of June 30, 2010 and
2009:
Millions of Euros
Tax Recognized in Total Equity
June December
2010 2009
Charges to total equity (517) (717)
Credits to total equity (*) 415 1
Total 102 (716)
(*) Tax asset credit to total equity as of June 30, 2010, due primaly to debt instruments unrealized losses.
21.5 DEFERRED TAXES
The balance under the heading “Tax assets” in the accompanying consolidated balance sheets includes the
tax receivables relating to deferred tax assets; the balance of the heading “Tax liabilities” in the
accompanying consolidated balance sheets includes the liabilities relating to the Group’s various deferred
tax liabilities.
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