EFTA01367104.pdf

Amendment #4 Page 675 of 868 CoMei canonized below It *considered that the amount of revenue cannot be reliably measured nil all contingences related to the sale have been resolved Revenue is recogeced as follows Sale of energy and power — Revenues from sales of electron, and power delivered and wined are recognized as income in the month in which the service is provided based on the reports of the Committee on Econorra Cperation of COES-SINAC National ad which are issued a moth after the delivery of energy. Sales of energy from Renewable Energy Resources (RER) nclude a premum established teeter the RER contracts (see rote I(o)) Taxes— Current income tax— Current ncorne tax asset or letilty is measured at the amount expected lo be recovered from a pad to the taxation authorities, according to the existing rules for delenreing taxable income The income tax is calculated based on the Company's finance' irdomenon Deferred moire tax— Deferred axone tax *recorded tang the liablity method on temporary ddlererces between ere account ng basis and the tax basis at the date of itaternert of firennal position Uablities for deferred income taxes are recognized for all taxable temporary dfferences when the ccpxturuly of reversal can be controted arida is probable that they will not reverse in the foresteat/e future Deferred tax assets are recognized for all deductible temporary differences. and the (awe offset of unused tax credit and tax loss carryfaward, to the extent that a is probable that taxable profit wit be available agaret which the deductible temporary differences and the carryforwards of unused tax credits and unused tax knees can be used The carrying amount of deferred tax assets is renewed at each statement einem:dr position date and a reduced to the extent that a is no larger probable that sttneent future taxable income we be available to alkw tie benefit of part or the entire deferred asset to be utiltzed Unrecognized deferred assets are reassessed on each statement of fnancel poeuton date Deferred MX assets and lobates are measured at the tax rates that are expected to apply in the year when the asset is realized a the lability is settled. based on tax rates and tax rules Vol were approved to date end of the period over which it is reported. or whose approval *near to completion at that time Deferred tax items are recognized In ccrielaten to the underlying transaction ether In tne income statement or dreary in eaxty Deferred tax assets are deferred tax habiltes are offset if a legally enforceable night costs to sit off anent tax assets against current income lax Wanes and when the deferred taxes related to the sane taxable entity and the same taxation ateorty Value added tax— Reverses expenses and assets are recognized net d tie amount of Value Added Tax (VAT). except for the accounts reservable and payable which arc already stated with the *MOW( of VAT included F•356 http://cfdocs.btogo.com:27638/cf/drv7/pub/edgar/2015/07/20/0001193125-15-256461/d78... 7/20/2015 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0058632 CONFIDENTIAL SDNY GM_00204816 EFTA01367104