IBERSOL | Annual Report 2020

ANNUAL REPORT 2020 18.1.2. Income tax payable Income tax payable in the periods ended 31 December 2020 and 2019 is broken down as follows: dec/2020 dec/2019 Ibersol Angola 5.473 678.567 Others (1) 9.856 11.181 15.329 689.748 (1) excluded from RETGS, income tax to be paid by subsidiary Iberusa ACE. 18.2. DEFERRED TAX Changes in deferred taxes in the period are: Deferred taxes 31/12/2020 31/12/2019 Movement in the year (Note 26) Assets 14.914.797 4.010.940 -10.903.857 Liabilities -3.896.164 -8.671.083 -4.774.920 Total 11.018.633 -4.660.143 -15.678.777 Portugal 21% Spain 25% Angola 25% (30% in 2019) Tax rates of the jurisdictions in which the Group is present are as follows: 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. 375