Deferred tax (Tables)

12 Months Ended

Dec. 31, 2018

	2018			2017
Deferred tax assets		125			79
Deferred tax liabilities		537			1,029
Total net deferred tax liability/(asset)		412			950


Deferred tax assets comprise temporary differences on:	2018			2017
Financial assets		(7	)		(20	)
Insurance and investment contracts		-			(19	)
Deferred expenses, VOBA and other intangible assets		(125	)		(140	)
Defined benefit plans		12			26
Losses		167			176
Other		79			57
At December 31		125			79


Deferred tax liabilities comprise temporary differences on:	2018			2017
Real estate		520			554
Financial assets		815			1,724
Insurance and investment contracts		(1,433	)		(1,806	)
Deferred expenses, VOBA and other intangible assets		1,788			1,752
Defined benefit plans		(257	)		(268	)
Losses		(147	)		(120	)
Other		(748	)		(807	)
At December 31		537			1,029

Schedule of NetDeferred Tax Assets and Liabilities has been Recognized

The following table provides a movement schedule of net deferred tax broken-down by those items for which a deferred tax asset or liability has been recognized.


	Real estate			Financial assets			Insurance and investment contracts			Deferred expenses, VOBA and other intangible assets			Defined benefit plans			Losses			Other			Total
At January 1, 2018		554			1,744			(1,787	)		1,892			(295	)		(296	)		(863	)		950
Acquisitions/Additions		-			-			-			9			-			-			-			9
Charged to income statement		(31	)		(451	)		401			(63	)		23			(1	)		143			22
Charged to equity		(7	)		(513	)		2			-			17			(2	)		12			(493	)
Net exchange differences		4			46			(51	)		82			(14	)		(4	)		(38	)		25
Disposal of a business		-			-			-			-			-			-			-			-
Transfers to disposal groups		-			-			-			-			-			-			-			-
Transfer to current income tax		-			-			-			-			-			-			-			-
Transfer to/from other headings		-			(3	)		-			(6	)		-			-			9			-
Other		-			-			-			-			-			(11	)		(90	)		(101	)
At December 31, 2018		519			822			(1,434	)		1,914			(269	)		(314	)		(827	)		412

At January 1, 2017		541			3,165			(2,988	)		3,298			(645	)		(407	)		(850	)		2,113
Acquisitions/Additions		-			-			-			9			-			(1	)		(14	)		(6	)
Charged to income statement		37			32			609			(1,016	)		120			78			(62	)		(202	)
Charged to equity		(9	)		(874	)		-			-			174			-			(5	)		(715	)
Net exchange differences		(16	)		(270	)		241			(322	)		57			27			111			(172	)
Disposal of a business		-			-			-			2			-			-			-			2
Transfers to disposal groups		-			-			-			-			-			8			-			8
Transfer to current income tax		-			-			-			-			-			-			(73	)		(73	)
Transfer to/from other headings		-			(300	)		351			(79	)		-			-			27			-
Other		-			(9	)		-			-			-			-			2			(7	)
At December 31, 2017		554			1,744			(1,787	)		1,892			(295	)		(296	)		(863	)		950

Schedule of Loss Carryforward period and Deferred Corporate Income Tax Assets Not Recognized

For the following amounts, arranged by loss carry forward periods, the deferred corporate income tax asset is not recognized:


	Gross amounts¹				Not recognized deferred tax assets
	2018		2017		2018		2017
< 5 years		65		89		15		22
³ 5 – 10 years		21		137		5		18
³ 10 – 15 years		20		-		36		25
³ 15 – 20 years		-		-		-		-
Indefinitely		385		499		86		111
At December 31		490		725		142		177

¹	The gross value of state tax loss carry forward is not summarized in the disclosure, due to the fact that the United States files in different state jurisdictions with various applicable tax rates and apportionment rules