ACCIONA, S.A. AND SUBSIDIARIES (Consolidated Group ...

In view of the varying interpretations that can be made of the applicable tax legislation, the
outcome of the tax audits of the open years that could be conducted by the tax authorities in the
future could give rise to tax liabilities which cannot be objectively quantified at the present time.
However, the possibility of material liabilities arising in this connection additional to those
already recognised is remote.
Tax receivables and payables
The detail of the tax receivables and payables at 31 December is as follows:
2011 2010
Non-current Current Non-current Current
Tax receivables
VAT -- 199,551 -- 194,472
Tax refunds -- 15,742 -- 59,109
Tax receivables for uncollected grants -- 1,069 -- 1,595
Deferred tax assets 859,027 -- 715,337 --
Other -- 46,723 -- 39,572
Total 859,027 263,085 715,337 294,748
Tax payables
Income tax -- 88,288 -- 18,129
Personal income tax withholdings -- 16,131 -- 17,479
VAT -- 149,828 -- 147,519
Deferred tax liabilities 896,725 -- 905,847 --
Accrued social security taxes -- 17,614 -- 23,340
Other local taxes -- 10,703 -- 10,084
Other -- 43,683 -- 36,063
Total 896,725 326,247 905,847 252,614
In 2011 the main changes in the current tax assets relate to the collection of the tax receivables
from the State and provincial tax authorities and the changes in the current tax liabilities related to
the increase in the income tax payable.
The VAT refundable and VAT payable accounts include the balances relating to the special
consolidated VAT regime.
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