Cemex 2013 Annual Report Download - page 160

Notes to the financial statements
12) Income taxes
12A) Income taxes for the period
Theamountsforincometaxes(expense)incometothestatementsofoperationsin2013,2012and2011aresummarizedasfollows:
2013 2012 2011
Currentincometax $ (10,564) (437) (41)
Deferredincometax  8,822 (1,272) (427)
   $ (1,742) (1,709) (468)
InDecember2013,consideringtheprojections ofestimatedtaxableincomeinCEMEX,S.A.B.de C.V.resultingfromthereorganization
oftheoperationsinMexicothatisdescribedinnote16,CEMEX,S.A.B.deC.V.recognizeddeferredincometaxassetsforanamountof
approximately$10,823.
AsofDecember31,2013,taxlossandtaxcreditscarryforwardsandreservedcarryforwardsexpireasfollows:
Amount of
Amount of reserved
carryforward carryforwards
2014  $ 60 –
2015   419 –
2016   1,234 –
2017   984 –
2018andthereafter  57,214 16,480
   $ 59,911 16,480
InNovember2009,Mexicoapprovedamendmentstotheincometaxlaw,whichbecameeffectiveonJanuary1,2010.Suchamendments
modiedthetaxconsolidationregimebyrequiringentitiestodetermineincometaxesasifthetaxconsolidationprovisionsdidnotexist
from1999onward,specicallyturningintotaxableitems:a)thedifferencebetweenthesumoftheequityofthecontrolledentitiesfortax
purposesandtheequityoftheconsolidatedentityfortaxpurposes;b)dividendsfromthecontrolledentitiesfortaxpurposestoCEMEX,
S.A.B.deC.V.;andc)othertransactionsthatrepresentedthetransferofresourcesbetweenthecompaniesincludedinthetaxconsolidation.
InDecember2010,pursuanttomiscellaneousrules,thetaxauthorityinMexicograntedtheoptiontodeferthecalculationandpaymentof
theincometaxoverthedifferenceinequityexplainedabove,untilthesubsidiarywasdisposedoforCEMEX,S.A.B.deC.V.eliminatesthe
taxconsolidation.TaxliabilitiesassociatedwiththetaxlosscarryforwardsusedinthetaxconsolidationoftheMexicansubsidiariesarenot
offsetwithdeferredtaxassetsinthebalancesheet.Therealizationofthesetaxassetsissubjecttothegenerationoffuturetaxearningsin
thecontrolledsubsidiariesthatgeneratedthetaxlosscarryforwardsinthepast.
Inaddition,inconnectionwithnewamendmentstotheincometaxlawinMexicoapprovedinDecember2013andeffectivebeginning
January1,2014,thetaxconsolidationregimeineffectuntilDecember31,2013,wasreplacedprospectivelybyanewintegrationregime,
towhichCEMEX,S.A.B.deC.V.willnotapply,resultinginthatbeginningin2014,eachMexicanentitywilldetermineitsincometaxesbased
solelyinitsindividualresults.Aperiodofupto10yearshasbeenestablishedforthesettlementoftheliabilityforincometaxesrelatedto
thetaxconsolidationregimeaccrueduntilDecember31,2013,amountwhichconsideringthenewrulesissuedforthedisconnectionofthe
taxconsolidationregimeamountstoapproximately$24,804.ChangesinCEMEX,S.A.B.deC.V.’staxpayableinMexicoin2013,2012and
2011wereasfollows:
2013 2012 2011
Balanceatthebeginningoftheyear $ 14,546 12,410 10,079
 Incometaxreceivedfromsubsidiaries  1,805 2,089 2,352
 Restatementfortheperiod  1,234 745 485
 Paymentsduringtheperiod  (2,035) (698) (506)
 Effectsassociatedwithnewamendmentstoincometaxlaw  9,254 – –
Balanceattheendoftheyear $ 24,804 14,546 12,410
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