Annual Report 2010 - CMVM

Notes to the Consolidated Financial Statements as at 31 December 2010Furthermore, as at 31 December 2010 and 2009, the tax losses and credits for which no deferred tax assets were recorded as a precaution, can be broken down as follows:Tax loss2010 2009Tax creditDeadline foruseTax lossTax creditDeadline foruseGenerated in 2004 - - 2010 754 184 2010Generated in 2005 3,416 854 2011 2,884 717 2011Generated in 2006 2,839 710 2012 2,848 709 2012Generated in 2007 3,219 805 2013 3,214 801 2013Generated in 2008 3,447 862 2014 3,451 857 2014Generated in 2009 3,374 843 2015 3,373 840 2015Generated in 2010 3,052 763 2014 - - 201419,347 4,837 16,524 4,108Deferred tax assets were only recorded insofar as it is considered that taxable profits are likely to occur in the future which may be used to recover tax losses or deductible tax differences.This assessment was based on the periodically reviewed and updated business plans of the Group companies, and on available and identified tax planning opportunities.27 - CUSTOMERS AND OTHER RECEIVABLESAs at 31 December 2010 and 2009, this heading had the following composition:CurrentNon-current2010 2009 2010 2009Customers:Customers current account 441,277 317,632 79,033 61,051Customers - receivables on trading activity 13,432 14,298 - -Customers - doubtful debts 36,210 39,112 - -490,919 371,042 79,033 61,051Impairment losses (53,311) (39,305) - -437,608 331,737 79,033 61,051Other receivables:Employees 531 734 - -Other receivables 59,795 46,794 78 43060,326 47,528 78 430Impairment losses (3,743) (3,707) - (20)56,583 43,821 78 410During the year ended on 31 December 2010 and 2009, the movements which occurred in the impairment of receivables were as follows:Accumulated impairment losses on customers and other receivables:Balance as at 1 January 2010 43,032Currency conversion adjustments 923Reinforcements (Note 13) 14,606Reversals (Note 8) (2,595)Adjustments 1,088Balance as at 31 December 2010 57,054The Group's exposure to credit risk (Note 42) is attributable to the accounts receivable from its operating activity. The balances shown in the statement of the financial187