Edisun Power Europe Ltd. Corporate Governance Report 2010 ...

All amounts are in 000 CHF if not otherwise noted
15 Deferred Tax Assets and Liabilities
The gross movement on the deferred income tax account
is as follows:
2010 2009
Beginning of the year 1 390 1 037
Income statement credit 434 252
OCI statement credit 0 116
Foreign exchange difference
Net deferred tax assets
-59 -15
at end of year 1 765 1 390
The tax effects of temporary differences that give rise to
deferred tax assets and liabilities were as follows:
2010 2009
Finance liability 0 0
Tax loss carry-forwards 1 945 1 496
Total deferred income tax assets 1 945 1 496
Plants and equipment -180 -98
Intangible assets 0 -8
Total deferred income tax liability -180 -106
Net deferred income tax asset 1 765 1 390
Consolidated Financial Statements
Deferred income tax assets and liabilities are offset when
they relate to the same tax authority and tax subject. The
following amounts, determined after appropriate offsetting,
are shown in the consolidated balance sheet:
Deferred income tax assets are recognized for tax loss
carry-forward if the realization of the related tax benefits
through future taxable profits is likely. The Group
recognized deferred income tax assets of TCHF 1 945
(2009: TCHF 1 496) related to tax loss carry-forward.
As of December 31, 2010 the group has unrecognized
tax losses with an amount of TCHF 7 375. The respective
deferred income tax assets with the applicable tax rate
of 21.17% would be TCHF 1 561.
16 Pension Fund Liabilities
2010 2009
Deferred tax asset 1 945 1 496
Deferred tax liability -180 -106
2010 2009
Pension costs of pension plans are
presented below:
Current service costs 46 23
Interest cost on projected defined
benefit obligation
25 23
Expected return on plan assets -21 -18
Actuarial gains 0 3
Total pension costs 50 31
53