SAPPI LTD (SAP) 6-K

The Company has offset deferred tax assets and deferred tax liabilities only if the Company has a legally enforceable right to set off the recognised amounts
and intends either to settle on a net basis or to realise the asset and settle the liability simultaneously.
As of 31 December 2007 and 2006 the net operating loss carry-forwards in Germany amounted to approximately EUR 45 million and EUR 76 million,
respectively. The operating loss carry-forwards for which deferred tax assets have not been recognised due to uncertainty of the utilisation of these loss carryforwards
amounted to approximately EUR 13 million and EUR 29 million, respectively. These loss carry-forwards do not expire.
Note 11•Goodwill and other intangibles
Goodwill in the amount of EUR 96,000 relating to the Stockstadt acquisition on July 1, 2000 has been allocated to the Company based upon relative acquired
production capacities as of the original acquisition date. In fiscal year 2005, the Company fully impaired the goodwill allocated to the Company in the
amount of EUR 83,000.
Other intangible assets such as patents, licences, computer software, trademarks, emission rights and others have been recognised in the Company’s combined
financial statements as follows:
Goodwill
Other intangible
assets Total
Acquisition costs, 1 January 2005 83,000 42,327 125,327
Translation differences - (6) (6)
Increase - 5,505 5,505
Acquisition costs, 31 December 2005 83,000 47,826 130,826
Accumulated amortisation, 1 January 2005 - (39,402) (39,402)
Translation differences - 1 1
Accumulated amortisation on deduction - 72 72
Amortisation for the period - (1,174) (1,174)
Impairment charges (83,000) (83,000)
Accumulated amortisation, 31 December 2005 (83,000) (40,503) (123,503)
Book value, 1 January 2005 83,000 3,148 86,148
Book value, 31 December 2005 - 7,323 7,323
83