IBERSOL | Annual Report 2021

CONSOLIDATED FINANCIAL STATEMENTS The Group offsets deferred tax assets and deferred tax liabilities if, and only if: a) has a right of mandatory compliance to offset current tax assets against current tax liabilities; and b) deferred tax assets and deferred tax liabilities relate to income taxes assessed by the same tax authority on or: i) the same taxable entity, or ii) different taxable entities that intend to either settle current tax liabilities and assets on a net basis, or realize the assets and settle the liabilities simultaneously, in each fu- ture period when significant amounts of deferred tax liabilities or assets are expected to be settled or recovered. 18.2.1 Deferred tax assets As at 31st December 2021 and 2020 deferred tax assets on, according to jurisdiction and the temporary differences that generate them, are broken down as follows: dec/2021 Deferred tax assets Portugal Spain Total Tax losses carried forward - 7 005 961 7 005 961 Ded. temporary differences (IFRS 16) (1) - 744 265 744 265 Taxable temporary differences -33 859 -1 572 089 -1 605 947 Homogenization of property, plant and equipment and intangible assets (2) -5 065 885 -677 689 -5 743 575 Other temporary differences (3) 9 998 803 688 934 10 687 737 4 899 059 6 189 382 11 088 442 dec/2020 Deferred tax assets Portugal Spain Total Tax losses carried forward 1 378 625 4 153 688 5 532 313 Ded. temporary differences (IFRS 16) (1) - 11 158 906 11 158 906 Taxable temporary differences -33 859 -1 220 171 -1 254 030 Homogenization of property, plant and equipment and intangible assets (2) -5 606 236 -1 161 182 -6 767 418 Other temporary differences (3) 5 640 488 604 538 6 245 026 1 379 018 13 535 779 14 914 797 408