Page 147 - KELAG Annual Report 2019
P. 147

In the 2019 reporting period, the net balance of deferred tax assets and liabilities changed as
           follows:








            OPENING BALANCE AS OF 1/1                            -1.3         -1.0
            Changes recognised through profit or loss for the period   3.1    -5.3
            Changes recognised in other comprehensive income     14.4          4.8
            Other                                                 0.0          0.2
            CLOSING BALANCE AS OF 31/12                         16.2          -1.3

           Deferred tax assets are not recognised in cases where it is not probable that there will be future
           taxable profit available against which these could be utilised. In this context, the Group did not
           recognise deferred tax assets – primarily on unused tax losses – of EUR 1.8m (prior year: EUR 1.5m).

           As of 31 December 2019 (and in the prior year), the company assumed that, on the basis of the
           prevailing tax laws, the differences between the carrying amount of the investment in the tax
           accounts and the share in equity or carrying amount of the investment (outside-basis differences)
           in  consolidated  subsidiaries  and  investments  accounted  for  using  the  equity  method  in
           consolidated financial statements in accordance with IFRS – differences arising in particular due
           to  retained  profit  or  accumulated  losses  –  will remain tax exempt  for  the  foreseeable  future.
           Consequently,  the  company  did  not  recognise  a  tax  liability  for  temporary  differences  of
           EUR 95.7m  (prior  year:  EUR 84.6m)  in  connection  with  the  investments  in  subsidiaries  and
           associates as of 31 December 2019.

           Deferred tax effects were recorded on the following items in other comprehensive income:
   142   143   144   145   146   147   148   149   150   151   152