14.1. Deferred income tax provision/asset
| 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 Special Economic Zone (SEZ) and Polish Investment Zone (PIZ) | 38,331 | 6,057 | 0 | 0 | 44,388 |
| 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 |
| 31.12.2020 | Deferred income tax in the statement of profit or loss | Deferred income tax in other comprehensive income | Cumulative translation adjustment for subsidiaries | 31.12.2021 | |
|---|---|---|---|---|---|
| Assets, of which: | 138,329 | (32,573) | (702) | 2 | 105,056 |
| Employee benefits (payroll) | 1,914 | 271 | 0 | 0 | 2,185 |
| Provisions for employee benefits (holidays, bonuses, retirement benefits or disability benefits) | 10,077 | (53) | (702) | 2 | 9,324 |
| Other provisions and accruals | 2,662 | 2,704 | 0 | 0 | 5,366 |
| Write-down of receivables | 6,961 | (676) | 0 | 0 | 6,285 |
| Write-down of inventories | 4,551 | 2,036 | 0 | 0 | 6,587 |
| Unrealised profits on inventories | 5,269 | 50 | 0 | 0 | 5,319 |
| Write-downs of non-current assets | 3,708 | 169 | 0 | 0 | 3,877 |
| Currency translation differences from the revaluation of items in foreign currencies | 1,586 | (630) | 0 | 0 | 956 |
| CIT abatement due to the operations in Special Economic Zone (SEZ) and Polish Investment Zone (PIZ) | 77,754 | (39,423) | 0 | 0 | 38,331 |
| Tax loss | 114 | 1755 | 0 | 0 | 1,869 |
| Difference between the carrying amount and the tax value of property, plant and equipment | 21,561 | 2,067 | 0 | 0 | 23,628 |
| Interest on loans | 48 | (37) | 0 | 0 | 11 |
| Other | 2,124 | (806) | 0 | 0 | 1,318 |
| Set-off for presentation purposes | (26,329) | (27,758) | |||
| Deferred tax assets | 112,000 | 77,298 | |||
| Provisions, of which: | 72,283 | (1,201) | 252 | (242) | 71,092 |
| Difference between the carrying amount and the tax value of property, plant and equipment | 64,959 | 2,295 | 0 | (242) | 67,012 |
| Valuation of investment properties | 1,763 | (869) | 0 | 0 | 894 |
| Valuation of derivative financial instruments | 862 | 0 | 252 | 0 | 1,114 |
| Other | 4,699 | (2,627) | 0 | 0 | 2,072 |
| Set-off for presentation purposes | (26,329) | (27,758) | |||
| Set-off for presentation purposes | 45,954 | 43,334 |
According to the Group estimates, the following amounts recognised above were of long-term nature:
| 31.12.2022 | 31.12.2021 | |
|---|---|---|
| Deferred tax assets related to tax allowances for the operations in SEZ/PIZ | 32,958 | 19,518 |
| Assets resulting from provisions and accruals | 3,422 | 3,971 |
| Deferred tax provision related to investment property | (118) | (894) |
| Net deferred tax asset (provision) related to property, plant and equipment | (43,123) | (43,888) |
| Total long-term assets (provisions) | (6,861) | (21,293) |
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 | 31.12.2022 | 31.12.2021 |
|---|---|---|
| CIT exemption on account of operation in PIZ | 1,648 | 0 |
| Write-downs of assets of the Ukrainian companies (note 5.2) | 17,327 | 0 |
| Total non-recognised deferred income tax assets | 18,975 | 0 |
Reconciliation of the change in deferred income tax asset (liability) charged to net profit and other comprehensive income.
| 2022 | 2021 | |
|---|---|---|
| Asset (provision) at the beginning of the year | 33,964 | 66,046 |
| Valuation of derivative financial instruments recognised in other comprehensive income | 1,871 | (252) |
| Actuarial valuation recognised in other comprehensive income | (1,247) | (702) |
| Deferred income tax recognised in profit or loss | 1,691 | (31,372) |
| Cumulative translation adjustment for subsidiaries recognised in other comprehensive income | 34 | 244 |
| Assets (provision) at the end of the year | 36,313 | 33,964 |