Annual Report and Consolidated Account
014
177
If the real gross margin is less, or the discount rate -
after taxes - is greater than the estimates by the ma-
nagers, the impairment losses of the goodwill may be
greater than those recorded.
b) Income Tax
The group is subject to Income Tax in Portugal, Spain
and Angola. A significant judgement must be made to
determine the estimated income tax. The large num-
ber of transactions and calculations make it difficult
to determine the income tax during normal busi-
ness procedures. The group recognises liabilities for
additional payment of taxes that may originate from
reviews by the tax authorities. When tax audits indi-
cate a final result different from the initially recorded
amounts, the differences will have an impact on the
income tax and on deferred taxes in the period in whi-
ch those differences are identified.
c) Provisions
The group on a periodic basis examines possible obli-
gations arising from past events that should be recog-
nized or disclosed.
The subjectivity inherent in determining the probabi-
lity and amount of internal resources required to set-
tle these obligations may result in significant adjust-
ments due to changes in the assumptions used or the
future recognition of provisions previously disclosed
as contingent liabilities.
d) Fixed tangible and intangible assets
The determination of lifetime period of the assets and
the depreciation method to be applied, is essential to
determine the amount of depreciation to be recogni-
zed in the income statement for each year.
According to the best judgment of the Board of Direc-
tors and considering the practices adopted by com-
panies in the sector internationally these two parame-
ters are set for the assets and business in question.
5. INFORMATION ABOUT THE COMPANIES
INCLUDED IN THE CONSOLIDATION AND OTHER
COMPANIES
5.1. THE FOLLOWING GROUP COMPANIES WERE
INCLUDED IN THE CONSOLIDATION ON 31
ST
DECEMBER 2014 AND 2013:
% Shareholding
Company
Head Office
Dec 2014 Dec 2013
Parent company
Ibersol SGPS, SA
Porto
parent
parent
Subsidiary companies
Iberusa Hotelaria e Restauração, SA
Porto
100% 100%
Ibersol Restauração, SA
Porto
100% 100%
Ibersande Restauração, SA
Porto
80%
80%
Ibersol Madeira e Açores Restauração, SA
Funchal
100% 100%
Ibersol - Hotelaria e Turismo, SA
Porto
100% 100%
