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Integrated Report 2020

38. Deferred income tax

Changes in deferred income tax in the financial year:

XLS
Deferred tax assets Deferred tax basis
as at
31 December 2020 		Deferred tax basis
as at
31 December 2019 		Charge arising from
changes in asset
in 2020
Outstanding interest accrued on liabilities, including CD interest and discount 347,885 386,586 (7,353)
Fair value measurement of derivative instruments and securities* 1,069,542 514,985 105,366
Unrealised liabilities due to hedged items and hedging instruments 482,691 201,332 53,458
Impairment allowances on financial assets and provisions for contingent liabilities (non-deductible), which are probable to occur 3,397,655 3,765,364 (69,865)
Revenue collected in advance and measured at amortised cost including the effective interest rate 347,625 587,767 (45,627)
Provision for retirement benefits and provision for restructuring 93,482 121,399 (5,304)
Other provisions for personnel costs 254,917 272,559 (3,352)
Provisions for non-personnel expenses 337,319 530,701 (36,742)
Impairment allowance on fixed and intangible assets 14,669 13,529 217
Impairment allowance on shares in subsidiaries and associates* 61,375 47,671 2,604
Tax on civil law transactions – acquisition of shares in subsidiaries – 77 (15)
Compensations paid 3,051 8,812 (1,095)
Impairment allowance on lease receivables 105,391 90,477 2,834
Impairment allowance on available for sale assets related to leasing operations 70,620 58,110 2,377
Surplus of the tax value of leased fixed assets over the book value of receivables 619,332 776,281 (29,820)
Lease down-payments 37,121 28,137 1,706
Deferred income from leasing operations 21,712 19,750 372
Lease liabilities 958,280 608,343 66,488
Impairment allowances on other assets 8,451 5,509 559
Valuation of securities measured through other comprehensive income 41,612 8,971 6,202
Other deductible temporary differences 130,177 72,640 10,414
Total: 8,402,907 8,119,000 53,424

 

XLS
Asset basis recognised in profit or loss (in the current and preceding years) and charge arising from changes in asset* 8,361,294 8,110,014 47,225
Basis for assets recognised in correspondence with revaluation reserve and charge arising from changes in asset 41,613 8,986 6,199
* The amount of OB in the amount of PLN 15,603 thousand in item: Impairment allowance of shares and interests in subsidiaries and associates was transferred to the item Fair value measurement of derivative instruments and securities.

Unrecognised deferred tax asset is related to impairment allowances on loans and advances whose non-recoverability will not become probable in the future. The related unrecognised temporary differences amounted to PLN 33,219 thousand as at 31 December 2020 as compared to PLN 40,586 thousand as at 31 December 2019.

XLS
Deferred tax liability Deferred tax basis
as at
31 December 2020 		Deferred tax basis
as at
31 December 2019 		Charge arising from
changes in asset
in 2020
Accrued revenue from interest on amounts due (1,098,424) (1,214,838) (22,119)
Fair value measurement of derivative instruments and securities** (1,713,544) (716,101) 189,514
Valuation of securities measured through other comprehensive income*** (353,222) (157,173) 37,249
Difference between accounting and tax depreciation of the Bank’s own fixed assets (301,636) (231,583) 13,310
Accrued income – other (33) (652) (118)
Net value of right of use (RoU) (930,406) (596,251) 63,489
R&D expenses (4,178) (5,604) (271)
Unrealised liabilities related to hedged items and hedging instruments** – (1,748) (332)
Deferred costs of leasing operations (48,836) (45,670) 601
Other taxable temporary differences*** (26,907) (56,829) (5,684)
Total (4,477,186) (3,026,449) 275,640

 

XLS
Basis for the provision recognised in profit or loss (in the current and preceding years) and chargé arising from changes in the provision (4,119,663) (2,862,849) 238,796
Basis for the provision charged to revaluation reserve and chargé arising from changes in the provision (357,523) (163,600) 36,844
** The amount of OB in the amount of PLN 3 587 thousand in item: Unrealised liabilities related to hedged items and hedging instruments was transferred to the item Fair value measurement of derivative instruments and securities.
*** A transfer of the pension provision for retirement benefits from the item Valuation of securities measured through other comprehensive income to the item Other taxable temporary differences.

 

XLS
Deferred tax assets 1,596,551 1,543,129
Deferred tax liability (850,945) (574,708)
Net deferred tax assets 745,606 968,420

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