SABrook (asker) Dec 14, 2016:

See this official Spanish gov. website:
https://www.boe.es/diario_boe/txt.php?id=BOE-A-2014-12328
Then look at Article 130 - to my knowledge, this has not been translated officially into English but there are numerous unofficial translations but by reputable sites which are consistent with my interpretation (EU, Moody's, Spanish tax and legal firms)
I am happy with my interpretation so do not feel there is any need to pursue this further. Thanks for your time nonetheless!

Francois Boye Dec 14, 2016:

@ SABrook

May I ask you to show me what the EU document says about Spain corporate tax code?

SABrook (asker) Dec 14, 2016:

One source (among others):
http://ec.europa.eu/eurostat/documents/1015035/2041357/Guida...
Extract:
TREATMENT OF DEFERRED TAX ASSETS (DTAs)
In 2014, Basel III has introduced changes for the calculation of the Core Tier 1 capital ratio of financial institutions and DTAs that rely on future profitability are to be gradually deducted for the calculation of such ratio. This has induced some countries to enact specific changes in legislation allowing the conversion of DTAs into tax credits that constitute a direct claim on government .

Cristina Bufi Poecksteiner, M.A. Dec 13, 2016:

Glossary Entry - please source would be interesting, too.

Francois Boye Dec 13, 2016:

What is your source?

SABrook (asker) Dec 13, 2016:

Upon further consultation/reasearch, this again appear to mean that the 'deferred tax assets' (activos por impuestos diferido) have been converted into a claim [conversion ... en credito] made against [exigible frente] the Tax Authorities.
The 'compensacion' appears to mean 'set-off' or 'offsetting' of assets/gains against debts/liabilites.