Annual report 2012

19. Deferred tax assets and liabilities

Deferred tax assets and liabilities are calculated using the liability method, providing for temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes, using tax rates enacted in future years. In 2012, the applicable income tax rate was 18% (2011: 20 %). The Slovenian Corporate Income Tax Act (Official Journal of the Republic of Slovenia, no. 30/2012) envisages the gradual lowering of the tax rate to 15% until 2015. While calculating deferred tax assets and liabilities for 2012, the parent company and other companies in Slovenia used a tax rate of 15%.


Deferred tax assets

EUR thousand 2012 2011
Property, plant and equipment 5,713 7,678
Investments and financial assets 2,327 1,221
Operating receivables 4,480 7,864
Other non-current assets 4,829 0
Provisions 3,889 5,798
Deferred tax assets 21,238 22,561


Deferred tax liabilities

EUR thousand 2012 2011
Property, plant and equipment 6,501 9,648
Investments and financial assets 108 137
Deferred tax liabilities 6,609 9,785

The restatement of the tax rate resulted in a decrease in deferred tax assets, which was charged against profit or loss for the period in the amount of EUR 5,641 thousand, and a decrease in deferred tax liabilities credited to revaluation reserves in the amount of EUR 2,446 thousand.