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ANNUAL REPORT 2011
25. NET FINANCING COST
Net financing cost in the year ending on 31 December 2011 and 2010 are broken down as follows:
26. INCOME TAX
Income tax recognised in the year ending on 31 December 2011 and 2010 are broken down as
follows:
The group’s income tax prior to taxes is not the same as the theoretical amount that would result
from applying the mean weighted income tax rate to the consolidated profit, as follows:
Dec/11
Dec/10
Current taxes
2,908,835
4,022,187
Deferred taxes (Note 17)
-267,935
784,883
2,640,900
4,807,070
In the year 2011 movements in the deferred taxes were as follows:
Temporary differences in the year (Note 17)
-536,599
Correction deferred tax
261,227
Perimeter changes
7,437
-267,935
2011
2010
Interest paid
1,951,928
1,386,781
Interest earned
-1,188,834
-287,889
Currency exchange differences
54,020
46,002
Payment discounts granted
342
-
Payment discounts obtained
-11,471
-10,417
Other financial costs and income
428,695
348,348
1,234,680
1,482,825