CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
OPERADORA DE SITES MEXICANOS, S.A.B. DE C.V. AND SUBSIDIARIES
17. INCOME TAX
On 30 October 2020, the Mexican Congress approved the 2021 Tax Reform, which became effective on January 1st 2021. Among other changes, the reform establishes a net
interest expense deduction limitation equal to 30% of an entity's adjusted tax profit. This limitation is only applicable when the amount of the aggregate interest payments of the
members of a corporate group in Mexico exceeds 20 million Mexican pesos. The 2021 Tax Reform had no effect on the Company's consolidated financial statements.
a) The Mexican Income Tax Law (MITL) establishes a corporate income tax rate of 30% for fiscal years 2022 and 2021.
b) An analysis of income tax recognized in profit or loss for the years ended 31 December 2022 and 2021 is as follows:
Current income tax
Deferred income tax
Total income tax
c) A reconciliation of the Company's net deferred income tax assets and liabilities is as follows:
2022
2021
Ps.
Ps.
901,521
(250,483)
651,038
Ps.
663,643
Ps.
(439,100)
224,543
2022
2021
As at 1 January
Ps.
Deferred income tax recognized in profit or loss
Deferred income tax in other comprehensive income
Deferred income tax reclassified to retained earnings
(4,267,059)
250,483
(6,245)
Ps.
(6,191,456)
439,100
(716,392)
2,201,689
As at 31 December
Ps.
(4,022,821)
Ps.
(4,267,059)
d) A reconciliation of the statutory income tax rate to the effective income tax rate recognized by the Company for financial reporting purposes is as follows:
2022
30%
2021
30%
Statutory income tax rate
Effect of reconciling items:
Taxable effects of inflation
Property and equipment, net
Non-deductible items
Provisions
Reversal of provisions
Leases
Share of profit/(loss) of trust
Effective income tax rate
55
99
(30)
(52)
1
1
2
3
18
12
3
(40)
82%
50%
99
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