27 – Deferred taxes
In EUR mn |
|
|
|
|
||
---|---|---|---|---|---|---|
|
Deferred tax assets total |
Deferred tax assets not recognized |
Deferred tax assets recognized |
Deferred tax liabilities |
||
|
|
|
|
|
||
|
2023 |
|||||
Intangible assets |
141 |
1 |
140 |
199 |
||
Property, plant, and equipment |
57 |
9 |
48 |
2,259 |
||
Inventories |
49 |
— |
49 |
34 |
||
Derivatives |
81 |
— |
81 |
206 |
||
Receivables and other assets |
92 |
20 |
73 |
313 |
||
Deferred taxes reclassified to assets and liabilities associated with assets held for sale |
127 |
124 |
3 |
319 |
||
Provisions for pensions and similar obligations |
212 |
94 |
118 |
106 |
||
Provisions for decommissioning, restoration obligations and environmental costs |
1,247 |
15 |
1,233 |
0 |
||
Other provisions |
122 |
— |
122 |
1 |
||
Liabilities |
354 |
37 |
317 |
10 |
||
Tax impairments according to section 12 (3)/2 of the Austrian Corporate Income Tax Act (KStG) |
574 |
— |
574 |
— |
||
Tax loss carryforwards |
1,536 |
1,088 |
448 |
— |
||
Outside basis differences |
144 |
— |
144 |
17 |
||
Total |
4,737 |
1,387 |
3,350 |
3,464 |
||
Netting (same tax jurisdictions) |
|
|
–2,183 |
–2,183 |
||
Deferred taxes reclassified to assets and liabilities associated with assets held for sale |
|
|
–3 |
–319 |
||
Deferred taxes as per statement of financial position |
|
|
1,164 |
962 |
||
|
|
|
|
|
||
|
2022 |
|||||
Intangible assets |
159 |
— |
159 |
244 |
||
Property, plant, and equipment |
120 |
3 |
117 |
2,564 |
||
Inventories |
38 |
— |
38 |
56 |
||
Derivatives |
226 |
— |
226 |
683 |
||
Receivables and other assets1 |
85 |
20 |
65 |
337 |
||
Deferred taxes reclassified to assets and liabilities associated with assets held for sale |
153 |
135 |
18 |
52 |
||
Provisions for pensions and similar obligations |
204 |
89 |
116 |
107 |
||
Provisions for decommissioning, restoration obligations and environmental costs |
1,217 |
14 |
1,203 |
0 |
||
Other provisions1 |
152 |
— |
152 |
32 |
||
Liabilities |
350 |
0 |
350 |
16 |
||
Tax impairments according to section 12 (3)/2 of the Austrian Corporate Income Tax Act (KStG) |
684 |
— |
684 |
— |
||
Tax loss carryforwards |
1,635 |
816 |
819 |
— |
||
Outside basis differences |
120 |
— |
120 |
54 |
||
Total |
5,143 |
1,076 |
4,067 |
4,145 |
||
Netting (same tax jurisdictions) |
|
|
–2,916 |
–2,916 |
||
Deferred taxes reclassified to assets and liabilities associated with assets held for sale |
|
|
–1 |
–35 |
||
Deferred taxes as per statement of financial position |
|
|
1,150 |
1,194 |
||
|
Deferred taxes were mainly related to different valuation methods, differences in impairments, write-offs, write-ups, and depreciation and amortization, as well as different definitions of costs.
The decrease in DTL related to intangible and tangible assets was mainly driven by the reclassification of SapuraOMV to “held for sale”. For further details see Note 22 – Assets and liabilities held for sale.
As of December 31, 2023, deductible temporary differences for which no DTA was recognized amounted to EUR 929 mn (2022: EUR 783 mn).
The overall net DTA position of tax jurisdictions that suffered a tax loss either in the current or preceding year amounted to EUR 503 mn, of which EUR 464 mn is attributable to the Austrian tax group (2022: EUR 682 mn, of which Austrian tax group EUR 522 mn).
In both 2023 and the previous year, a valuation allowance for the DTA of the Austrian tax group was recognized. The DTA recognized for the Austrian tax group as of December 31, 2023, reflects the expected utilization of deductible temporary differences of balance sheet items and tax losses carried forward based on the mid-term plan for the period 2024–2028. Limitation to the usage of tax losses of 75%, as stipulated by the Austrian Corporate Income Tax Act, was considered in the assessment of the recoverable DTA within and after the planning period.
As of December 31, 2023, OMV recognized tax loss carryforwards of EUR 6,257 mn before allowances (2022: EUR 6,877 mn), of which EUR 1,842 mn (2022: EUR 3,460 mn) is considered recoverable for the calculation of deferred taxes.
Eligibility of losses to be carried forward expires as follows:
In EUR mn |
|
|
|
|
||
---|---|---|---|---|---|---|
|
2023 |
2022 |
||||
|
Base amount (before allowances) |
thereof not recognized |
Base amount (before allowances) |
thereof not recognized |
||
2023 |
— |
— |
18 |
18 |
||
2024 |
2 |
2 |
2 |
2 |
||
2025 |
11 |
11 |
11 |
11 |
||
2026 |
3 |
3 |
3 |
3 |
||
2027 |
52 |
3 |
56 |
3 |
||
2028 |
2 |
2 |
— |
— |
||
After 2028/2027 |
2 |
2 |
2 |
0 |
||
Unlimited |
6,185 |
4,393 |
6,784 |
3,379 |
||
Tax losses carryforward |
6,257 |
4,415 |
6,877 |
3,417 |
||
|
The majority of tax loss carryforwards not recognized referred to the Austrian tax group and France.
As of December 31, 2023, 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 9,317 mn (2022: EUR 10,352 mn). The exception criteria as per IAS 12 for not recognizing these deferred tax liabilities is deemed to be fulfilled due to the fact that the Group is able to control or influence the relevant decisions with respect to the timing of the reversal and it is not probable that temporary differences will reverse in the foreseeable future or the Group intends to reinvest undistributed profits. 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.