IBERSOL | Integrated Management Report 2022

Consolidated Financial Statements Other temporary differences In 2021, the approximately 10 million euros in Portugal refer to the 6.4 million euros that were disposed of under the sale of the BK business, as mentioned above, and by the consumption of tax credits in the year. Tax losses carried forward The detail of tax losses carried forward from Spain is presented as follows: prior to 2015 2016 2018 2019 2020 2021 Total Spain 915 313 2 648 565 89 064 6 826 073 24 127 190 13 648 045 48 254 249 Total 915 313 2 648 565 89 064 6 826 073 24 127 190 13 648 045 48 254 249 Regarding the tax losses carried forward from Spain, with no expiration date for de- duction, detailed above, the Group did not recognize deferred tax assets on tax losses carried forward generated in Spain amounting to 5.041.349 euros (corresponding to a deferred tax amount of 1.260.337 euros), as there is no reasonable assurance as to the recoverability of such tax losses carried forward. In the analysis of the recoverability of deferred tax assets, the Group took into con- sideration the best estimates of future taxable income projections and the existence of taxable temporary differences against which tax losses, tax credits and deductible temporary differences can be utilized. Business plans were prepared which, considering the Spanish taxation rules and the specificities of the group of companies, formed the basis for the recoverability assess- ment. The business plans were approved by management and are based on projections from external entities, such as Eurocontrol in the case of traffic, as well as being consist- ent with the business plans that served as the basis for the impairment analyses of the Group’s assets. Deferred tax assets relating to tax losses carried forward are presented as follows: 470