Annual Report Gorenje Group 2009

GROUP - DEFERRED TAX ASSETS AND LIABILITIES
Note 25 – Deferred tax assets and tax liabilities
Deferred taxes are calculated based on the temporary differences using the balance sheet liability
method. The applied tax rate is the current tax rate applicable in the country in which the respective
Group company is domiciled.
in TEUR Deferred tax assets Deferred tax liabilities
Tax assets – tax
liabilities
2009 2008 2009 2008 2009 2008
Property, plant and equipment 353 44 5,282 4,918 -4,929 -4,874
Investments 1,687 1,337 72 461 1,615 876
Receivables 1,027 1,155 48 3 979 1,152
Inventories 147 153 246 688 -99 -535
Liabilities from litigations 7 12 6 7 6
Provisions in lines with local
standards and tax laws 1,022 916 -40 65 1,062 851
Provisions for retirement benefits
and jubilee premiums 3,480 3,871 -33 3,513 3,871
Provisions for warranties 2,506 2,789 10 333 2,496 2,456
Unused tax losses 2,616 2,616
Unused tax incentives 623 623
Interest rate swaps – cash flow
hedge 2,062 2,062
Changes in the Group
Total 15,530 10,277 5,585 6,474 9,945 3,803
in TEUR
Tax assets – Tax
liabilities
Through profit or loss
Through other
comprehensive income
2009 2008 2009 2008 2009 2008
Property, plant and equipment -4,929 -4,874 -206 -17 84 -2,604
Investments 1,615 876 475 1,020 517 1,440
Receivables 979 1,152 -121 -171
Inventories -99 -535 -98 93
Liabilities from litigations 7 6 -6 -29
Provisions in lines with local
standards and tax laws 1,062 851 -441 -209
Provisions for retirement benefits
and jubilee premiums 3,513 3,871 -325 -240
Provisions for warranties 2,496 2,456 270 13
Unused tax losses 2,616 2,664
Unused tax incentives 623 623
Interest rate swaps – cash flow
hedge 2,062 2,062
Changes in the Group
Total 9,945 3,803 2,835 460 2,663 -1,164
Both deferred tax assets and deferred tax liabilities were recognised by the Group companies in 2009.
Creation of deferred tax liabilities (through profit or loss) is based on the amounts of a decrease in the
tax base of the Group companies in 2009 with regard to the determined profit or loss before taxes.
Creation of deferred tax assets is based on an increase in the tax base of the Group companies in
2009 with regard to the determined profit or loss before tax and the determined tax losses.
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Annual Report Gorenje Group 2009