Deutsche Post Annual Report 2008

31 Deferred taxes


€m
	2007¹⁾	2008
Deferred tax assets for German tax loss carryforwards
of which corporation tax and solidarity surcharge	80	1
of which trade tax	70	1
Deferred tax assets for foreign tax loss carryforwards	77	40
	227	42
Deferred tax assets for temporary differences	813	991
Total deferred tax assets	1,040	1,033
Deferred tax liabilities for temporary differences	1,569	833

No deferred tax assets were recognised for tax loss carryforwards of around €16.3 billion (previous year: €11.7 billion) and for temporary differences of around €696 million (previous year: €1.2 billion), as it can be assumed that the Group will not be able to use these tax loss carryforwards and temporary differences within the framework of tax planning. Most of the loss carryforwards are attributable to Deutsche Post AG. It will be possible to utilise these tax loss carryforwards for an indefinite period of time. For foreign companies, the significant loss carryforwards will not lapse before 2020.

Deferred taxes have not been recognised for temporary differences of €386 million (previous year: €468 million) relating to earnings of German and foreign subsidiaries because these temporary differences will probably not reverse in the foreseeable future.

Maturity structure
€m
	Less than 1 year	1 to 2 years	2 to 3 years	3 to 4 years	4 to 5 years	More than 5 years	Total
2008
Deferred tax assets for tax loss carryforwards	2	3	0	0	0	37	42
Deferred tax assets for temporary differences	282	95	69	36	36	473	991
Deferred tax liabilities for temporary differences	488	86	41	24	29	165	833
2007
Deferred tax assets for tax loss carryforwards	10	9	86	84	4	34	227
Deferred tax assets for temporary differences	220	67	38	20	285	183	813
Deferred tax liabilities for temporary differences	12	18	7	417	542	573	1,569

The following deferred tax assets and liabilities for temporary differences result from differences in the carrying amounts of individual balance sheet items:

Deferred taxes for temporary differences
€m
	2007		2008
	Assets	Liabilities	Assets	Liabilities
Intangible assets	72	701	98	294
Property, plant and equipment	17	75	61	38
Non-current financial assets	26	0	47	2
Other non-current assets	14	37	9	29
Receivables and other securities from financial services	414	2,205	0	0
Other current assets	143	10	29	41
Provisions	434	131	338	245
Financial liabilities	4	0	293	1
Liabilities from financial services	1,653	97	0	0
Other liabilities	31	313	167	250
	2,808	3,569	1,042	900
Netting of deferred tax assets and liabilities
of which for tax loss carryforwards	0	–5	0	–16
of which for temporary differences	–1,995	–1,995	–51	–51
Carrying amount	813	1,569	991	833