AMPER, SA and Subsidiaries Consolidated Financial Statements for ...

19. Tax affaires
Most of the companies in the Amper Group pay Profits Tax under the Consolidated Regime, being part
of Consolidated Tax Group 31/9.
The reconciliation of the accounting loss for the year to the Consolidate Tax Group's tax loss for profits
tax purposes is as follows (in thousands of Euros):
31.12.11 31.12.10
Consolidated net loss before taxes 187 (21,529)
Tax charge at 30% 56 6,459
Consolidation and homogenization adjustments (a) 11,419 6,469
Permanent differences (b) (17,100) (17,110)
Deductions (250) (330)
Foreign company tax rate difference (c) (623) (161)
IS expenditure adjustment for the previous financial
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year (d) (38)
Deferred tax active change (e) 1,893 (4,993)
Recognition of deferred tax liabilities (f) 56 (1,546)
Total profit tax (4,587) (11,212)
a) The settings of homogenization and consolidation mainly correspond to the deletions of the
dividends carried out on the consolidated tax base during the financial year.
b) The permanent differences correspond to:
- The accounting records of the non-deductible expenses.
- Upon registration of countable income which is not income eligible for tax.
c) The different rate of taxation in foreign companies is due to the difference between the rate
applicable to companies domiciled abroad and the rate applicable in Spain.
d) The balance adjustment of the corporate income tax expense for the 2011 financial year is due to
differences between the provision of the expenditure carried out at the end of the financial year and the
final outcome of the settlement submitted to the various Tax Administrations.
(e) The variation of the assets because of the deferred tax is primarily due to the accounting treatment
of provisions for claims which are not considered tax deductible in the 2011 financial year.
(f) The variation of the liability because of the deferred tax is primarily due to the tax depreciation of the
stock portfolio.
During the 2006 fiscal year, the Consolidation Agreement signed between the various companies that
form part of the Tax Group took effect. This agreement regulates the application criteria and allocation
of the amount of tax of the Group, of the tax credits generated by the companies thereof, as well as the
recognition and settlement of the accounts payable and receivable that may result from the foregoing.
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