IBERSOL • 2023 Integrated Management Report

Consolidated Financial Statements Uncertain tax positions The amount of estimated assets and liabilities recorded associated with tax proceedings results from an assessment by the Group with reference to the date of the statement of financial position regarding potential differences of understanding with the Tax Administration. With regard to the measurement of uncertain tax positions, the Group takes into account the provisions of IFRIC 23 – “Uncertainty regarding income taxes”, namely in the measurement of risks and uncertainties in defining the best estimate of the expenditure required to settle the obligation, by weighing all possible controlled outcomes and associated probabilities. Income taxes recognized in the years ended 31 December 2023 and 2022 are detailed as follows: dec/23 dec/22 Current tax 432 523 2 554 479 Deferred tax -1 658 588 -4 696 205 -1 226 065 -2 141 726 9.1.1. Current tax recognized in the income statements 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: 2023 2022 Profit before tax 13 382 155 14 553 008 Tax calculated at the tax rate applicable in Portugal (22,5%) 3 010 985 3 274 427 Tax effect generated by: Recognition of deferred taxes Spain -1 402 798 -4 111 519 Tax credits/tax incentives in the year -2 840 582 -3 169 462 State surcharge 258 578 378 156 Autonomous taxation 181 654 224 841 Rate differences and other effects -433 903 1 261 829 Income tax -1 226 065 -2 141 727 As at 31 December 2023 the effective tax rate is -9% (-14% in 2022). The recognition of deferred taxes in Spain results from the business plans with the main impact on the recovery and growth of the Travel segment. 484