Group 25: Deferred tax assets and liabilities
Deferred taxes are recognised using the statement of financial position liability method based on temporary differences. The applied tax rate is the current tax rate applicable in the country in which the respective Group company is domiciled.
| in TEUR | Deferred tax assets | Deferred tax liabilities | Tax assets – tax liabilities | |||
|---|---|---|---|---|---|---|
| 2011 | 2010 | 2011 | 2010 | 2011 | 2010 | |
| Property, plant and equipment | 33 | 934 | 5.152 | 4.708 | -5.119 | -3.774 |
| Investments | 1.425 | 1.812 | -46 | -19 | 1.471 | 1.831 |
| Receivables | 2.104 | 1.523 | 68 | 85 | 2.036 | 1.438 |
| Inventories | 184 | 258 | -104 | -106 | 288 | 364 |
| Liabilities from litigations | ||||||
| Provisions in lines with local standards and tax laws | 471 | 1.632 | 150 | 1.308 | 321 | 324 |
| Provisions for retirement benefits and jubilee premiums | 2.870 | 3.110 | 2.870 | 3.110 | ||
| Provisions for warranties | 2.246 | 2.466 | -22 | -43 | 2.268 | 2.509 |
| Unused tax losses | 7.880 | 5.117 | 704 | 196 | 7.176 | 4.921 |
| Unused tax incentives | 2.457 | 1.191 | 81 | 2.376 | 1.191 | |
| Interest rate swaps – cash flow hedge | 1.027 | -12 | 1.027 | 12 | ||
| Changes in the Group | 0 | -50 | -55 | 50 | 55 | |
| Total | 20.697 | 18.043 | 5.933 | 6.062 | 14.764 | 11.981 |
| In TEUR | Tax assets – tax liabilities | Through profit or loss | Through other comprehensive income | |||
|---|---|---|---|---|---|---|
| 2011 | 2010 | 2011 | 2010 | 2011 | 2010 | |
| Property, plant and equipment | -5.119 | -3.774 | -20 | 159 | 31 | 158 |
| Investments | 1.471 | 1.831 | -601 | 124 | 27 | -50 |
| Receivables | 2.036 | 1.438 | 523 | 239 | ||
| Inventories | 288 | 364 | -30 | -23 | ||
| Liabilities from litigations | ||||||
| Provisions in lines with local standards and tax laws | 321 | 324 | -4 | 1.054 | ||
| Provisions for retirement benefits and jubilee premiums | 2.870 | 3.110 | -74 | -209 | ||
| Provisions for warranties | 2.268 | 2.509 | -179 | -81 | ||
| Unused tax losses | 7.176 | 4.921 | 2.168 | 95 | 2.033 | |
| Unused tax incentives | 2.376 | 1.191 | 595 | |||
| Interest rate swaps – cash flow hedge | 1.027 | 12 | 1.015 | -2.050 | ||
| Changes in the Group | 50 | 55 | 1.216 | 1.243 | ||
| Total | 14.764 | 11.981 | 3.594 | 2.601 | 1.073 | 91 |
Both deferred tax assets and deferred tax liabilities were recognised by the Group companies in 2011. Creation of deferred tax liabilities (through profit or loss) is based on the amounts of a decrease in the tax base of the Group companies in 2011 with regard to the determined profit or loss before taxes. Creation of deferred tax assets, however, is based on an increase in the tax base of the Group companies in 2011 with regard to the determined profit or loss before tax and the determined tax losses.