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25 – Deferred taxes

Deferred taxes

In EUR mn

 

 

 

 

 

Deferred tax assets total

Deferred tax assets not recognized

Deferred tax assets recognized

Deferred tax liabilities

 

 

 

 

 

 

2021

Intangible assets

197

22

175

446

Property, plant and equipment

163

86

77

2,456

Inventories

38

38

67

Derivatives

667

667

1,086

Receivables and other assets

88

15

73

50

Deferred taxes reclassified to assets and liabilities associated with assets held for sale

39

39

82

Provisions for pensions and similar obligations

263

128

135

106

Provisions for decommissioning, restoration obligations and environmental costs

1,307

15

1,292

0

Other provisions

125

125

46

Liabilities

259

0

259

7

Tax impairments according section 12 (3)/2 of the Austrian Corporate Income Tax Act (KStG)

115

115

Tax loss carryforwards

1,546

706

840

Outside basis differences

433

433

10

Total

5,240

972

4,268

4,356

Netting (same tax jurisdictions)

 

 

(2,965)

(2,965)

Deferred taxes reclassified to assets and liabilities associated with assets held for sale

 

 

39

82

Deferred taxes as per statement of financial position

 

 

1,265

1,309

 

 

 

 

 

 

2020

Intangible assets

209

20

188

606

Property, plant and equipment

137

89

48

2,322

Inventories

37

37

27

Derivatives

539

539

597

Receivables and other assets

55

17

38

53

Deferred taxes reclassified to assets and liabilities associated with assets held for sale

27

22

5

12

Provisions for pensions and similar obligations

291

151

140

111

Provisions for decommissioning, restoration obligations and environmental costs

1,318

14

1,305

Other provisions

121

121

34

Liabilities

305

60

245

23

Tax impairments according section 12 (3)/2 of the Austrian Corporate Income Tax Act (KStG)

226

226

Tax loss carryforwards

1,654

780

875

Outside basis differences

40

Total

4,919

1,153

3,765

3,823

Netting (same tax jurisdictions)

 

 

(2,581)

(2,581)

Deferred taxes reclassified to assets and liabilities associated with assets held for sale

 

 

5

12

Deferred taxes as per statement of financial position

 

 

1,179

1,229

Deferred taxes were mainly related to different valuation methods, differences in impairments, write-offs, depreciation and amortization as well as different definition of costs.

The overall net deferred tax asset position of tax jurisdictions which suffered a tax loss either in current or preceding year amounted to EUR 901 mn, thereof EUR 658 mn is attributable to the Austrian tax group (2020: EUR 720 mn, thereof Austrian tax group EUR 640 mn).

In 2021 as well as in the previous year, a valuation allowance for deferred tax assets for the Austrian tax group was recognized.

As of December 31, 2021, OMV recognized tax losses carryforward of EUR 5,886 mn before allowances (2020: EUR 6,302 mn), thereof EUR 3,202 mn (2020: EUR 3,331 mn) are considered recoverable for calculation of deferred taxes.

Eligibility of losses for carryforward expires as follows:

Tax losses carryforward

In EUR mn

 

 

 

 

 

2021

2020

 

Base amount (before allowances)

thereof not recognized

Base amount (before allowances)

thereof not recognized

2021

5

5

2022

0

0

0

0

2023

0

0

2

2

2024

0

0

4

4

2025

0

0

48

17

After 2026/2025

0

0

47

24

Unlimited

5,885

2,684

6,196

2,919

Tax losses carryforward

5,886

2,684

6,302

2,971

The majority of tax losses carryforward not recognized referred to the Austrian Tax Group and France.

As of December 31, 2021, the aggregate amount of temporary differences associated with fully consolidated and equity-accounted investments for which deferred tax liabilities have not been recognized amounted to EUR 7,475 mn (2020: EUR 4,657 mn). Capital gains on disposals of investments may be realized on various levels of the Group depending on the structuring of potential divestments. Due to the complexity of the group and the associated tax implications simplifying assumptions for the calculation have been made that aim to diminish cascade effects.