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KD Holding Group
Notes to Consolidated Financial Statements as at and for the year ended 31 December 2007
21. Deferred income taxes
Deferred income tax assets and liabilities are offset
when there is a legally enforceable right to offset
current tax assets against current tax liabilities and
when the deferred income taxes relate to the same
fiscal authority.
The offset amounts are as follows:
(in EUR) 2007 2006
Deferred tax assets:
– Deferred tax assets to be recovered after more than 12
months
8,938,370 7,844,619
8,938,370 7,844,619
Deferred tax liabilities:
– Deferred tax liabilities to be recovered after more than 12
months
(11,466,256) (6,380,706)
(11,466,256) (6,380,706)
(2,527,886) 1,463,913
(in EUR) 2007 2006
The gross movement in the deferred income tax account is as follows:
Beginning of the year 1,463,913 (3,050,175)
Exchange differences (33,900) 6,063
Acquisition of subsidiaries (543) -
Disposal of subsidiaries (11,562) -
Income statement charge (Note 28) 1,586,596 5,746,871
Tax charged/(credited) to equity (Note 17) (5,532,390) (1,238,846)
At the end of the year (2,527,886) 1,463,913
305
The movement in deferred tax assets and liabilities during the year, without taking into consideration the offsetting
of balances within the same tax jurisdiction, is as follows:
Deferred tax liabilities:
(in EUR) Fair value gains Other Total
At 1 January 2006 9,005,041 602,429 9,607,470
Charged/(credited) to the income statement (4,087,869) (377,896) (4,465,765)
Charged to equity 3,771,691 - 3,771,691
Charged to equity-transfer to net profit (Note 16) (2,532,845) - (2,532,845)
Exchange differences 13 142 155
At 31 December 2006 6,156,031 224,675 6,380,706
Charged /(credited) to the income statement (287,965) (159,493) (447,458)
Charged to equity-fair value remeasurement 7,063,187 - 7,063,187
Charged to equity-transfer to net profit (Note 16) (1,530,797) - (1,530,797)
Acquisition of subsidiaries - 543 543
Exchange differences - 75 75
At 31 December 2007 11,400,456 65,800 11,466,256