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Notes to the Accounts

21 Deferred Tax Assets and Liabilities
               
           
Changes in deferred tax during the financial period 2010
               
EURm   1.1. Recognised in comprehensive income statement Recognised in equity Exchange differences 31.12.
Deferred tax assets            
  Tax losses carried forward   5 15 0 0 20
  Changes in fair values   1 0 -1 0 0
  Employee benefits   34 1 0 4 38
  Other deductible temporary differences   51 -18 6 -1 37
Total   91 -3 5 2 95
               
  Netting of deferred taxes           -28
               
Deferred tax assets in the balance sheet           68
               
Deferred tax liabilities            
  Depreciation differences and untaxed reserves   360 -5 0 22 377
  Changes in fair values   121 4 125 0 249
  Other taxable temporary differences   29 11 0 1 41
Total   510 10 125 23 667
               
  Netting of deferred taxes           -28
               
Total deferred tax liabilities in the balance sheet           640
               
               
Changes in deferred tax during the financial period 2009
               
EURm   1.1. Recognised in comprehensive income statement Recognised in equity Exchange differences 31.12.
Deferred tax assets            
  Tax losses carried forward   63 -58 0 0 5
  Changes in fair values   1 0 0 0 1
  Employee benefits   32 -1 0 3 34
  Other deductible temporary differences   116 6 0 3 125
Total   212 -53 0 6 165
               
  Netting of deferred taxes           -84
               
Deferred tax assets in the balance sheet           81
               
Deferred tax liabilities            
  Depreciation differences and untaxed reserves   334 6 0 20 360
  Changes in fair values   -8 -109 243 -5 121
  Other taxable temporary differences   109 -8 0 1 103
Total   435 -111 243 17 584
               
  Netting of deferred taxes           -84
               
Total deferred tax liabilities in the balance sheet           500
               
In P&C insurance, EURm 1 of deferred tax asset has not been recognised on unused tax losses and temporary differences.
               
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