38. Deferred income tax
Changes in deferred income tax in the financial year:
| Deferred tax assets | Deferred tax basis as at 31 December 2021 |
Deferred tax basis as at 31 December 2020 |
Charge arising from changes in asset in 2021 |
|---|---|---|---|
| Outstanding interest accrued on liabilities, including CD interest and discount | 379,956 | 347,885 | 6,093 |
| Fair value measurement of derivative instruments and securities* | 2,102,834 | 1,069,542 | 196,325 |
| Unrealized liabilities due to hedged items and hedging instruments | 39,302 | 482,691 | (84,244) |
| Impairment allowances on financial assets and provisions for contingent liabilities (non-deductible), which are probable to occur/documented | 2,899,861 | 3,397,655 | (94,581) |
| Revenue collected in advance and measured at amortised cost including the effective interest rate | 220,849 | 347,625 | (24,087) |
| Provision for retirement benefits and provision for restructuring | 72,947 | 93,482 | (3,902) |
| Other provisions for personnel costs | 294,292 | 254,917 | 7,481 |
| Provisions for non-personnel expenses | 343,957 | 337,319 | 1,261 |
| Impairment allowance on fixed and intangible assets | 13,564 | 14,669 | (210) |
| Impairment of subsidiaries and associates | 64,983 | 61,375 | 686 |
| Compensations paid | 8,885 | 3,051 | 1,108 |
| Impairment allowance on lease receivables | 126,176 | 105,391 | 3,949 |
| Impairment allowance on available for sale assets related to leasing operations | 65,674 | 70,620 | (940) |
| Surplus of the tax value of leased fixed assets over the book value of receivables | 655,127 | 619,332 | 6,801 |
| Lease down-payments | 91,165 | 37,121 | 10,268 |
| Deferred income from leasing operations | 28,817 | 21,712 | 1,350 |
| Lease liabilities | 869,192 | 958,280 | (16,927) |
| Impairment allowances on other assets | 39,061 | 8,451 | 5,816 |
| Valuation of securities measured through other comprehensive income | 753,102 | 41,612 | 135,183 |
| Other negative deductible temporary differences | 83,807 | 130,177 | (8,810) |
| Total: | 9,153,551 | 8,402,907 | 142,622 |
| Asset basis recognised in profit or loss (in the current and preceding years) and charge arising from changes in asset | 8,400,448 | 8,361,294 | 7,439 |
| Basis for assets recognised in correspondence with revaluation reserve and charge arising from changes in asset | 753,103 | 41,613 | 135,183 |
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 26,767 thousand as at 31 December 2021 as compared to PLN 33,219 thousand as at 31 December 2020.
| Deferred tax liability | Deferred tax basis as at 31 December 2021 | Deferred tax basis as at 31 December 2020 | Charge arising from changes in asset in 2021 |
| Accrued revenue from interest on amounts due | (1,080,507) | (1,098,424) | 3,404 |
| Fair value measurement of derivative instruments and securities | (1,046,616) | (1,713,544) | 126,716 |
| Valuation of securities measured through other comprehensive income | (17,661) | (353,222) | 63,757 |
| Difference between accounting and tax depreciation of the Bank’s own fixed assets | (358,111) | (301,636) | (10,730) |
| Accrued income – other | – | (33) | 6 |
| Net value of right of use (RoU) | (781,441) | (930,406) | 28,303 |
| R&D expenses | (34,525) | (4,178) | (5,766) |
| Subleasing agreements | (34,026) | – | (6,465) |
| Unrealized liabilities related to hedged items and hedging instruments | (1,123,168) | – | (213,402) |
| Deferred costs of leasing operations | (56,144) | (48,836) | (1,389) |
| Other positive taxable temporary differences | (7,669) | (28,385) | 3,936 |
| Total: | (4,539,868) | (4,478,664) | (11,629) |
| Basis for the provision recognised in profit or loss (in the current and preceding years) and chargé arising from changes in the provision | (4,522,045) | (4,121,141) | (76,171) |
| Basis for the provision charged to revaluation reserve and chargé arising from changes in the provision | (17,823) | (357,523) | 64,542 |
| Deferred tax assets | 1,739,175 | 1,596,551 |
| Deferred tax liability | (862,576) | (850,945) |
| Net deferred tax asset | 876,599 | 745,606 |