Sampo Group’s Online Annual Report 2012 and Sampo’s video ‘25 Years as a Listed Company’ have been granted the international Red Dot Communication Design 2013 Awards.

Red Dot design award winner 2013

Notes to the Group’s financial statements

21 Deferred tax assets and liabilities
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Changes in deferred tax during the financial period 2012
               
EURm   1 Jan. Recognised in
comprehensive
income statement
Recognised
in equity
Exchange
differences
31 Dec.
Deferred tax assets          
  Tax losses carried forward   19 0 0 0 18
  Changes in fair values   0 0 0 0 0
  Employee benefits   37 -7 0 1 31
  Other deductible temporary differences   29 -28 2 2 5
Total   85 -36 2 3 54
               
  Netting of deferred taxes           -10
               
Deferred tax assets in the balance sheet           44
               
Deferred tax liabilities            
  Depreciation differences and untaxed reserves   356 -29 0 11 337
  Changes in fair values   107 -2 92 -1 197
  Other taxable temporary differences   28 -10 0 1 18
Total   491 -41 92 10 552
               
  Netting of deferred taxes           -10
               
Total deferred tax liabilities in the balance sheet           542
               
Changes in deferred tax during the financial period 2011
               
EURm   1 Jan. Recognised in
comprehensive
income statement
Recognised
in equity
Exchange
differences
31 Dec.
Deferred tax assets            
  Tax losses carried forward   20 0 -2 0 19
  Changes in fair values   0 0 0 0 0
  Employee benefits   38 -2 0 0 37
  Other deductible temporary differences   16 -1 0 0 15
Total   75 -3 -2 0 71
               
  Netting of deferred taxes           -7
               
Deferred tax assets in the balance sheet           64
               
Deferred tax liabilities            
  Depreciation differences and untaxed reserves   377 -22 0 1 356
  Changes in fair values   249 -2 -141 0 107
  Other taxable temporary differences   20 -2 0 0 18
Total   647 -27 -141 2 481
               
  Netting of deferred taxes           -7
               
Total deferred tax liabilities in the balance sheet           474
               
In Sampo plc, EURm 22 of deferred tax asset has not been recognised on unused tax losses. The first losses will expire in 2021.
               
In life insurance, EURm 4 of deferred tax asset has not been recognised on unused tax losses.