Navigation Map Download our best practices

Interactive navigation is a tool that goes beyond the standard navigation of the integrated content (available in the report drop-down bar). New approach allowed to navigate in the two additional business dimensions of the PZU Group, i.e .:
- strategy (insurance, health, investments, finances);
- sustainable development (sales, employees, social responsibility, natural environment and ethics).
The above-mentioned areas were additionally supplemented with related GRI indicators, within each selected issue.
Employees
Society
Ethics
Environment
Products
Overview
Health
Banks
Investments
Insurance

44.3 Quantitative data

Annual Report 2018 > RESULTS 2018 > Supplementary Information and Notes > 44. Deferred tax > 44.3 Quantitative data
INTEGRATED
NAVIGATION
Reference areas Ref. areas
Insurance
Health
Investments
Banking
Best Pratices in PZU
COMPARE
PAGE TOOLS
INTEGRATED
NAVIGATION

44.3.1 Deferred tax assets

Unrecognized deferred tax assets resulting from the tax loss according to legally permissible realization term 31 December 2018 31 December 2017
up to 1 year 4 5
1 to 5 years 9 14
over 5 years 6 5
term unlimited by law 2 2
Total 21 26

Movement in deferred tax assets in the year ended 31 December 2018 Balance at the beginning of the period The effect of the application of IFRS 9 Changes recognized in the financial result Changes recognized in other compre- hensive income Other changes Balance at the end of the period
Loan receivables from clients 809 308 48 (7) - 1,158
Upfront bank commissions 478 45 57 - - 580
Liabilities to clients under deposits 68 - (10) - - 58
Intangible assets – trademarks and client relations (340) - 49 - - (291)
Financial instruments 248 - 11 (21) (1) 237
Real property (74) - 13 - - (61)
Accrued reinsurance income and expenses 18 - 16 - - 34
Provisions for employee benefits 85 - (13) - - 72
Provisions for bonuses 67 - 7 - - 74
Other provisions and liabilities 193 - 139 - - 332
Tax losses carried forward 31 - 7 - (1) 37
Provision for restructuring expenses 7 - (3) - - 4
Total deferred tax assets 1,590 353 321 (28) (2) 2,234

Movement in deferred tax assets in the year ended 31 December 2017 (restated) Balance at the beginning of the period Changes recognized in the financial result Changes recognized in other compre- hensive income Change in the composi- tion of the Group Other changes Balance at the end of the period
Loan receivables from clients 324 (39) - 524 - 809
Upfront bank commissions 294 6 - 178 - 478
Liabilities to clients under deposits 24 11 - 33 - 68
Intangible assets – trademarks and client relations (48) 39 - (331) - (340)
Financial instruments 36 66 (25) 169 2 248
Real property - 15 - (85) (4) (74)
Accrued reinsurance income and expenses - 18 - - - 18
Provisions for employee benefits (1) 4 (2) 74 10 85
Provisions for bonuses - 20 - 31 16 67
Other provisions and liabilities (54) 103 - 171 (27) 193
Tax losses carried forward 5 1 - 25 - 31
Provision for restructuring expenses 48 (41) - - - 7
Tax relief for activity in a special economic zone 13 (13) - - - -
Total deferred tax assets 641 190 (27) 789 (3) 1,590

44.3.2. Deferred tax liability

Movement in deferred tax liabilities in the year ended 31 December 2018 Balance at the beginning of the period The effect of the application of IFRS 9 Changes recognized in the financial result Changes recognized in other compre- hensive income Other changes Balance at the end of the period
Financial instruments 229 (3) (45) (60) 1 122
Recourse receivables 9 - - - - 9
Real property 73 - 14 1 (31) 57
Deferred acquisition expenses 268 - 9 - - 277
Accrued reinsurance income and expenses 14 - (20) - - (6)
Intangible assets – trademarks and client relations 61 - (3) - - 58
Provisions for employee benefits (12) - (3) - - (15)
Provision for bonuses (50) - (3) - - (53)
Liabilities unpaid to natural persons (under mandate contracts, agency contracts etc.) (65) - (8) - - (73)
Other provisions and liabilities (89) (1) (15) - - (105)
Prevention fund 17 - (3) - - 14
Equalization provision 137 - 8 - - 145
Tax losses carried forward (18) - (2) - 3 (17)
Other differences 64 (3) 12 - - 73
Total movement in deferred tax liabilities 638 (7) (59) (59) (27) 486

Movement in deferred tax liabilities in the year ended 31 December 2017 Balance at the beginning of the period Changes recognized in the financial result Changes recognized in other compre- hensive income Change in the composi- tion of the Group Other changes Balance at the end of the period
Financial instruments 108 122 3 - (4) 229
Recourse receivables 4 5 - - - 9
Real property 60 (7) - 1 19 73
Deferred acquisition expenses 254 14 - - - 268
Accrued reinsurance income and expenses 28 (14) - - - 14
Intangible assets – trademarks and client relations 41 (12) - 33 (1) 61
Provisions for employee benefits (11) - - (1) - (12)
Provision for bonuses (46) (3) - (1) - (50)
Liabilities unpaid to natural persons (under mandate contracts, agency contracts etc.) (60) (5) - - - (65)
Other provisions and liabilities (80) (9) - 1 (1) (89)
Prevention fund 16 1 - - - 17
Equalization provision 127 10 - - - 137
Tax losses carried forward (22) 4 - - - (18)
Other differences 50 10 1 3 - 64
Total movement in deferred tax liabilities 469 116 4 36 13 638

Facebook Facebook Twitter Twitter Linkedin Linkedin All