But the firm has an advantage over its peers: Spanish law lets it write off goodwill against tax when making acquisitions, which means it can afford to pay more than rivals.

但是这个公司比起其他同行有一个优势：西班牙法律取消了收购时的税收优惠，意味着它比起其竞争者可以承担更多的支出。

youdao

If you think that the value of any of the businesses you have acquired has gone down, you can write off some or all of that Goodwill.

如果你认为你所购买的企业价值下降了，那就可以对商誉的部分或者全部进行减值处理。

youdao

Since this would force banks to write off all goodwill against banks' core capital, this might result in a flurry of end-year deals.

ECONOMIST: Beneath that healthy exterior