IBERSOL | Integrated Management Report 2022

INTEGRATED MANAGEMENT REPORT 2022 The Group’s pre-tax income tax differs from the theoretical amount that would result from applying the weighted average income tax rate to consolidated income as fol- lows: 2022 2021 Profit before tax 14 553 008 35 238 181 Tax calculated at the tax rate applicable in Portugal (22,5%) 3 274 427 7 928 591 Tax effect generated by: Tax losses without deferred tax - 728 642 Recognition of deferred taxes Spain -4 111 519 - Tax credits/tax incentives in the year -3 169 462 -4 368 239 State surcharge 378 156 191 864 Autonomous taxation 224 841 311 578 Rate differences and other effects 1 261 829 -1 071 066 Income tax -2 141 727 3 721 370 As at 31 December 2022 the effective tax rate is -14% (11% in 2021). The recognition of deferred taxes in Spain results from the upward change in the per- spectives of the travel business, as per note 6. 9.1.2. Current tax recognized in the statement of financial position 9.1.2.1. Income tax recoverable As at 31 December 31, 2022, the amount of tax on income to be recovered amounts to EUR 109.587 (EUR 110.222 in 2021), as follows: Dec/22 Dec/21 Spain 31 557 35 614 Portugal 78 030 - Angola - 70 100 Others - 4 508 109 587 110 222 9.1.2.2. Income tax payable As at 31 December 2022 and 2021, the amount of tax payable breaks down as follows: Dec/22 Dec/21 Portugal - 444 394 Angola 406 730 - Others 7 135 12 006 413 865 456 400 467