14.1. Deferred income tax provision/asset
| 31.12.2022 | Deferred income tax in the statement of profit or loss | Deferred income tax in other comprehensive income | Cumulative translation adjustment for subsidiaries | 31.12.2023 | |
|---|---|---|---|---|---|
| Assets, of which: | 104,251 | 33,926 | (255) | 0 | 137,922 |
| Employee benefits (payroll) | 2,567 | (2,385) | 0 | 0 | 182 |
| Provisions for employee benefits (holidays, bonuses, retirement benefits or disability benefits) | 8,597 | (2,369) | 502 | 0 | 6,730 |
| Other provisions and accruals | 4,357 | 1,462 | 0 | 0 | 5,819 |
| Write-down of receivables | 5,560 | (837) | 0 | 0 | 4,723 |
| Write-down of inventories | 4,695 | (400) | 0 | 0 | 4,295 |
| Unrealised profits on inventories | 2,430 | 935 | 0 | 0 | 3,365 |
| Write-downs of non-current assets | 3,801 | 451 | 0 | 0 | 4,252 |
| Currency translation differences from the revaluation of items in foreign currencies | 1,419 | (1,313) | 0 | 0 | 106 |
| CIT abatement due to the operations in PSI | 35,820 | 41,313 | 0 | 0 | 77,133 |
| CIT abatement due to the operations in SEZ | 8,568 | (5,505) | 0 | 0 | 3,063 |
| Tax loss | 2,660 | (290) | 0 | 0 | 2,370 |
| Derivative financial instruments | 757 | 0 | (757) | 0 | 0 |
| Difference between the carrying amount and the tax value of property, plant and equipment | 22,465 | 1,875 | 0 | 0 | 24,340 |
| Interest on loans | 555 | 989 | 0 | 0 | 1,544 |
| Set-off for presentation purposes | (54,045) | (66,143) | |||
| Deferred tax assets | 50,206 | 71,779 | |||
| Provisions, of which: | 67,938 | 7,860 | 1,415 | 228 | 77,441 |
| Difference between the carrying amount and the tax value of property, plant and equipment | 66,751 | 7,826 | 0 | 228 | 74,805 |
| Valuation of investment properties | 907 | 12 | 0 | 0 | 919 |
| Currency translation differences from the revaluation of items in foreign currencies | 280 | 22 | 0 | 0 | 302 |
| Valuation of derivative financial instruments | 0 | 0 | 1,415 | 0 | 1,415 |
| Set-off for presentation purposes | (54,045) | (66,143) | |||
| Deferred tax provision | 13,893 | 11,298 |
| 31.12.2021 | Deferred income tax in the statement of profit or loss | Deferred income tax in other comprehensive income | Cumulative translation adjustment for subsidiaries | 31.12.2022 | |
|---|---|---|---|---|---|
| Assets, of which: | 105,056 | (360) | (490) | 45 | 104,251 |
| Employee benefits (payroll) | 2,185 | 382 | 0 | 0 | 2,567 |
| Provisions for employee benefits (holidays, bonuses, retirement benefits or disability benefits) | 9,324 | 510 | (1,247) | 10 | 8,597 |
| Other provisions and accruals | 5,366 | (1,009) | 0 | 0 | 4,357 |
| Write-down of receivables | 6,285 | (726) | 0 | 1 | 5,560 |
| Write-down of inventories | 6,587 | (1,892) | 0 | 0 | 4,695 |
| Unrealised profits on inventories | 5,319 | (2,889) | 0 | 0 | 2,430 |
| Write-downs of non-current assets | 3,877 | (76) | 0 | 0 | 3,801 |
| Currency translation differences from the revaluation of items in foreign currencies | 956 | 463 | 0 | 0 | 1,419 |
| CIT abatement due to the operations in PSI | 579 | 35,241 | 0 | 0 | 35,820 |
| CIT abatement due to the operations in SEZ | 37,752 | (29,184) | 0 | 0 | 8,568 |
| Tax loss | 1,869 | 757 | 0 | 34 | 2,660 |
| Derivative financial instruments | 0 | 0 | 757 | 0 | 757 |
| Difference between the carrying amount and the tax value of property, plant and equipment | 23,628 | (1,163) | 0 | 0 | 22,465 |
| Interest on loans | 11 | 544 | 0 | 0 | 555 |
| Other | 1,318 | (1,318) | 0 | 0 | 0 |
| Set-off for presentation purposes | (27,758) | (54,045) | |||
| Deferred tax assets | 77,298 | 50,206 | |||
| Provisions, of which: | 71,092 | (2 051) | (1,114) | 11 | 67,938 |
| Difference between the carrying amount and the tax value of property, plant and equipment | 67,012 | (272) | 0 | 11 | 66,751 |
| Valuation of investment properties | 894 | 13 | 0 | 0 | 907 |
| Currency translation differences from the revaluation of items in foreign currencies | 0 | 280 | 0 | 0 | 280 |
| Valuation of derivative financial instruments | 1,114 | 0 | (1,114) | 0 | 0 |
| Other | 2,072 | (2,072) | 0 | 0 | 0 |
| Set-off for presentation purposes | (27,758) | (54,045) | |||
| Deferred tax provision | 43,334 | 13,893 |
According to the Group estimates, the following amounts recognised above were of long-term nature:
| 31.12.2023 | 31.12.2022 | |
|---|---|---|
| Deferred tax assets related to tax allowances for the operations in SEZ/PSI | 66,520 | 32,958 |
| Assets resulting from provisions and accruals | 2,799 | 3,422 |
| Deferred tax provision related to investment property | (907) | (894) |
| Net deferred tax asset (provision) related to property, plant and equipment | (53,790) | (43,123) |
| Total long-term assets (provisions) | 14,622 | (7,637) |
Other deferred tax assets and provisions, except for the ones listed above, are short-term.
The table below presents the dates and amounts of settling tax losses, for which the Group did not recognise deferred tax assets:
| Titles on which no deferred tax assets were recognised | 31.12.2023 | 31.12.2022 |
|---|---|---|
| CIT exemption on account of operation in PSI | 0 | 1,648 |
| Write-downs of assets of the Ukrainian companies (note 5.2) | 11,441 | 17,327 |
| Total | 11,441 | 18,975 |
Reconciliation of the change in deferred income tax asset (liability) charged to net profit and other comprehensive income.
| 2023 | 2022 | |
|---|---|---|
| Asset (provision) at the beginning of the year | 36,313 | 33,964 |
| Valuation of derivative financial instruments recognised in other comprehensive income | (2,172) | 1,871 |
| Actuarial valuation recognised in other comprehensive income | 502 | (1,247) |
| Deferred income tax recognised in profit or loss | 26,066 | 1,691 |
| Cumulative translation adjustment for subsidiaries recognised in other comprehensive income | (228) | 34 |
| Assets (provision) at the end of the year | 60,481 | 36,313 |