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Income tax
 12 Months Ended
Dec. 31, 2021
Statement [LineItems]  
Income tax
18 Income tax
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
         
     
Note
     
                2021
                     2020                     2019  
         
Current tax
                                  
         
Current year
               116       (105 )      118  
         
Adjustments to prior years
               (5 )      (205 )      (14 ) 
 
   
 
 
 
   
 
111
 
  
 
(310
) 
  
 
103
 
Deferred tax
   
 
40
 
                         
         
Origination / (reversal) of temporary differences
               296       (99 )      68  
         
Changes in tax rates / bases
               (32 )      (11 )      33  
         
Changes in deferred tax assets as a result of recognition /write off of previously not recognized / recognized tax losses,tax credits and deductible temporary differences
               (5 )      12       4  
         
Non-recognition of deferred tax assets
               9       7       17  
         
Adjustments to prior years
               (6 )      171       (8 ) 
 
   
 
 
 
   
 
260
 
  
 
81
 
  
 
114
 
         
Income tax for the period (income) / charge
   
 
 
 
   
 
371
 
  
 
(229
) 
  
 
217
 
Adjustments to prior years include shifts between current and deferred tax.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
       
Reconciliation between standard and effective income tax:
   
                2021
                     2020                     2019  
       
Result before tax
      2,400       (364 )      1,453  
       
Income tax calculated using weighted average applicable statutory tax rates
      508       (99 )      292  
       
Difference due to the effects of:
                         
       
Non-taxable income
      (69 )      (46 )      (76 ) 
       
Non-tax deductible expenses
      21       22       22  
       
Changes in tax rate/base
      (32 )      (1 )      33  
       
Tax credits
      (48 )      (57 )      (67 ) 
       
Other taxes
      38       (2 )      57  
       
Adjustments to prior years
      (11 )      (33 )      (22 ) 
       
Change in uncertain tax positions
      (16 )      -       -  
       
Changes in deferred tax assets as a result of recognition / write off of previously not recognized / recognized tax losses, tax credits and deductible temporary differences
      (5 )      12       4  
       
Non-recognition of deferred tax assets
      9       7       17  
       
Tax effect of (profit) / losses from joint ventures and associates
      (18 )      (17 )      (11 ) 
       
Other
      (5 )      (4 )      (32 ) 
 
   
 
(137
) 
  
 
(130
) 
  
 
(75
) 
       
Income tax for the period (result) / charge
   
 
371
 
  
 
(229
) 
  
 
(217
) 
The weighted average applicable statutory tax rate for 2021 is 21.2% (2020: 27.1%, 2019: 20.1%). The weighted average applicable statutory tax rate decreased compared to 2020 due to high contribution of income before tax in the United Stated and relatively high income in 2021 from equity accounted joint ventures and associates - compared to the total consolidated income - which is presented net of tax in the consolidated income statement.
Non-taxable income in 2021 is comprised of the regular non-taxable items such as the dividend received deduction in the United States and the participation exemption in the Netherlands. Compared to 2020 non-taxable income increased due to more exempt income in the Netherlands and the United Kingdom.
In the Netherlands, the enacted future corporate income tax rate increased from 25% to 25.8% as from January 1, 2022 which resulted in an unfavorable tax rate impact. In the United Kingdom, the enacted future corporate income tax rate will increase from 19% to 25% as of April 1, 2023 which resulted in a beneficial tax rate impact.
Tax credits mainly include tax benefits from United States investments that provide affordable housing to individuals and families that meet median household income requirements.
Other taxes are higher compared to 2020 due to favorable equity markets which yielded higher policyholder taxes in the United Kingdom and state tax expenses in the United States due to positive income.
In 2020, ‘Adjustments to prior years’ mainly consist of a shift between current and deferred tax in the Netherlands due to the recalculation of the technical insurance provisions for tax purposes.
Changes in uncertain tax positions relate to a partial release of certain reassessed tax provisions in the United States and the Netherlands.
In 2019, ‘Other’ mainly relates to the one-off tax benefit in the United Kingdom due to the release of the historic deferred tax balances held in respect of the pension scheme deficit when the defined benefit pension scheme moved to surplus.
The following tables present income tax related to components of other comprehensive income and retained earnings.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
       
     
                2021
                     2020                     2019  
       
Items that will not be reclassified to profit and loss:
                         
       
Changes in revaluation reserve real estate held for own use
      1       (2 )      1  
       
Remeasurements of defined benefit plans
      (102 )      140       90  
    
 
(101
) 
  
 
138
 
  
 
92
 
       
Items that may be reclassified subsequently to profit and loss:
                         
       
(Gains) / losses on revaluation of available-for-sale investments
      222       (666 )      (726 ) 
       
(Gains) / losses transferred to the income statement on disposal and impairment of available-for-sale investments
      100       2       94  
       
Changes in cash flow hedging reserve
      47       54       3  
       
Movement in foreign currency translation and net foreign investment hedging reserve
      3       (7 )      (5 ) 
 
   
 
372
 
  
 
(616
) 
  
 
(634
) 
       
Total income tax related to components of other comprehensive income
   
 
270
 
  
 
(479
) 
  
 
(542
) 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
         
             
                2021
                      2020                      2019  
         
Income tax related to equity instruments and other
                                    
         
Income tax related to equity instruments
   
 
31
 
      13        18        51  
Other
               3        1        (1 ) 
         
Total income tax recognized directly in retained earnings
   
 
 
 
   
 
16
 
   
 
19
 
   
 
50
 
Aegon N.V [member]  
Statement [LineItems]  
Income tax
7 Income tax
 
  
  
  
  
                2021 
 
 
                2020
 
       
Current Tax
  
  
  
      
 
      
       
       
Current Tax
   
 
      54        39  
       
Income tax for the period (result) / charge
   
 
   
 
54 
 
  
 
39
 
       
Reconciliation between standard and effective tax
                      
       
Result before tax
           (193 )      (185 ) 
       
Tax on result on Dutch corporate result tax rate
           48       46  
       
Differences due to the effect of:
                      
       
Tax rate changes
           4       -  
       
Change in uncertain tax positions
           8       -  
       
Non deductible expenses
   
 
      (7 )      (7 ) 
       
Total
   
 
   
 
54
 
  
 
39