Deferred tax (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of NetDeferred Tax Assets and Liabilities has been Recognized



	2021			2020

Deferred tax assets		131			101

Deferred tax liabilities		1,559			1,424

Total net deferred tax liability / (asset)		1,428			1,323

Deferred tax assets comprise temporary differences on:	2021			2020

Financial assets		(7	)		13

Insurance and investment contracts		(8	)		(5	)

Deferred expenses, VOBA and other intangible assets		(133	)		(110	)

Defined benefit plans		3			-

Tax losses and credits carried forward		264			321

Other		11			(118	)

At December 31		131			101



Deferred tax liabilities comprise temporary differences on:	2021			2020

Real estate		776			663

Financial assets		1,816			2,169

Insurance and investment contracts		(1,410	)		(1,539	)

Deferred expenses, VOBA and other intangible assets		1,573			1,323

Defined benefit plans		(151	)		(206	)

Tax losses and credits carried forward		(754	)		(502	)

Other		(291	)		(484	)

At December 31		1,559			1,424

Summary of Deferred Tax

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			Tax losses and credits carried forward			Other			Total

At January 1, 2021		663			2,156			(1,533	)		1,433			(206	)		(823	)		(366	)		1,323

Charged to income statement		113			(113	)		217			162			(32	)		(140	)		54			260

Charged to OCI		(1	)		(359	)		-			-			100			-			(1	)		(261	)

Net exchange differences		1			167			(86	)		112			(15	)		(56	)		(20	)		103

Transfer (to)/from current income tax		-			-			-			-			-			2			-			2

Transfer (to) /from other headings		-			(29	)		-			-			-			(1	)		30			-
At December 31, 2021		776			1,823			(1,402	)		1,706			(154	)		(1,018	)		(303	)		1,428

At January 1, 2020		644			1,474			(1,470	)		1,774			(256	)		(734	)		(397	)		1,036

Acquisitions / Additions		-			-			-			2			-			-			-			2

Charged to income statement		20			289			(102	)		(213	)		169			(13	)		(67	)		81

Charged to OCI		2			597			-			-			(140	)		-			4			464

Net exchange differences		(3	)		(204	)		105			(130	)		21			56			27			(128	)

Transfer (to)/from current income tax		-			-			-			-			-			(132	)		-			(132	)

Transfer (to)/from other headings		-			-			(66	)		-			-			-			66			-
At December 31, 2020		663			2,156			(1,533	)		1,433			(206	)		(823	)		(366	)		1,323

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 tax asset is not recognized:


	Gross amounts 1)				Not recognized deferred tax assets
	2021		2020		2021		2020

< 5 years		62		71		15		18

≥ 5 – 10 years		24		12		4		4

≥ 10 – 15 years		-		18		55		57

≥ 15 – 20 years		-		4		-		-

Indefinitely		598		514		151		114
At December 31		684		619		224		192

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