16 – Deferred tax
Deferred tax assets and liabilities are attributable to the following items:
| (€ million) |
Assets |
Liabilities |
Total |
|
2008 |
2007 |
2008 |
2007 |
2008 |
2007 |
| Investment property |
– |
– |
288.0 |
301.7 |
288.0 |
301.7 |
| Tax losses |
13.4 |
10.5 |
– |
– |
-13.4 |
-10.5 |
|
|
|
|
|
274.6 |
291.2 |
Movements in deferred tax
| (€ million) |
2008 |
2007 |
| Balance as at 1 January |
291,2 |
|
248 |
|
| Movement arising from revaluation |
-20,7 |
|
32,2 |
|
| Movement arising from acquisitions |
6,9 |
|
12,8 |
|
| Tax value of tax losses |
-2,8 |
|
-1,8 |
|
| Balance as at 31 December |
|
274,6 |
|
291,2 |
Movements arising from revaluation are recognised through profit or loss. All tax losses that are expected to be utilised within the foreseeable future have been recognised. These tax losses are in principle available for set-off indefinitely. Deferred tax assets have not been recognised in respect of tax losses totalling € 4.7 million.
Source: Annual Report 2008, Chapter Financial Statements, page 167 (PDF, 179 kB)
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