IBERSOL | Annual Report 2020

Consolidated Financial Statements Leases liability interest (IFRS16) by geography, is presented as follows: 2020 2019 Spain 12.615.118 13.334.544 Portugal 3.953.381 3.692.736 Angola 201.871 497.259 16.770.370 17.524.539 Financial income and gains in 2020 and 2019 are broken down as follows:: Financial income and gains 2020 2019 Interest earned (1) 924.705 1.394.624 Other financial income and gains 819.657 574.781 1.744.362 1.969.405 (1) essentially interest on treasury bonds and term deposits. The detail of other financial costs and income, is presented as follows: 2020 2019 Financial instruments - cash flow hedge (Note 19) -65.620 -48.871 Commercial paper programmes charges 483.975 499.210 Discounted value (Note 12) 8.283 -15.397 Impairment reversal TB's (Note 11) -543.613 -233.396 Other commissions 89.084 141.683 Other financial cost and gains 580.687 572.235 552.795 915.463 26. INCOME TAX Income tax recognised in 2020 and 2019 are broken down as follows: 2020 2019 Current taxes 554.076 4.490.712 Income tax provision - -3.211.467 Insufficiency (excess) of income tax -17.293 -705.133 Deferred taxes -15.678.777 -5.895.887 -15.141.994 -5.321.775 382