41.3 Deferred tax assets
Reference Areas:
Health
Investments
Banking
Best Pratices in PZU
As at 31 December 2017, unrecognized deferred tax assets related to tax losses were as follows:
- in Link4: PLN 14 million (as at 31 December 2016: PLN 17 million) – realization will be possible within a 5-year period counted from the moment in which Link4 ceases to be part of the Tax Group;
- in PZU Lietuva Gyvybes Draudimas: PLN 2 million (as at 31 December 2016: PLN 2 million) – unrestricted realization period.
| Movement in deferred tax assets in the year ended 31 December 2017 | Beginning of the period | Changes recognized in profit or loss | Changes recognized in other comprehen sive income | Change in the composition of the Group | Other changes | End of the period |
| Loan receivables from clients | 319 | (48) | - | 524 | - | 795 |
| Bank commissions collected in advance | 294 | 6 | - | 178 | - | 478 |
| Liabilities to clients | 24 | 11 | - | 33 | - | 68 |
| Intangible assets – trademarks and customer relations | (48) | 39 | - | (331) | - | (340) |
| Financial instruments | 33 | 61 | (25) | 169 | 1 | 239 |
| Real property | - | 15 | - | (75) | (4) | (64) |
| Accrued reinsurance income and expenses | - | 18 | - | - | - | 18 |
| Provisions for employee benefits | (1) | 4 | (2) | 74 | 10 | 85 |
| Provisions for bonuses | - | 20 | - | 31 | 16 | 67 |
| Other provisions and liabilities | (57) | 107 | (2) | 245 | (15) | 278 |
| Tax losses to be used in subsequent years | 5 | 1 | - | 25 | - | 31 |
| Provision for restructuring expenses | 48 | (41) | - | - | - | 7 |
| Tax allowance for activities conducted in a special economic zone | 13 | (13) | - | - | - | - |
| Total deferred tax assets | 633 | 176 | (27) | 799 | (4) | 1,577 |
| Movement in deferred tax assets in the year ended 31 December 2016 (restated) | Beginning of the period | Changes recognized in profit or loss | Changes recognized in other comprehen sive income | Change in the composition of the Group | Other changes | End of the period |
| Loan receivables from clients | 230 | 6 | - | 83 | - | 319 |
| Bank commissions collected in advance | 145 | 51 | - | 98 | - | 294 |
| Liabilities to clients | 27 | (5) | - | 2 | - | 24 |
| Intangible assets – trademarks and customer relations | (57) | 9 | - | - | - | (48) |
| Financial instruments | (2) | 13 | 21 | 1 | - | 33 |
| Real property | (4) | 4 | - | - | - | - |
| Other provisions and liabilities | 12 | 39 | - | (113) | 5 | (57) |
| Tax losses to be used in subsequent years | 3 | (1) | - | - | 3 | 5 |
| Provision for restructuring expenses | - | 37 | - | 11 | - | 48 |
| Tax allowance for activities conducted in a special economic zone | 13 | - | - | - | - | 13 |
| Total deferred tax assets | 369 | 153 | 21 | 82 | 8 | 633 |
