

Deferred tax liabilities comprise temporary differences on:	2022		2021

Real estate		-		776

Financial assets		-		1,816

Insurance and investment contracts		-		(1,410	)

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

Defined benefit plans		-		(151	)

Tax losses and credits carried forward		-		(754	)

Other		3		(291	)

At December 31		4		1,559

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 invest- ment contracts			Deferred expens- es, VOBA and other intangible assets			Defined benefit plans			Tax losses and credits carried forward			Other			Total

At January 1, 2022		776			1,823			(1,402	)		1,706			(154	)		(1,018	)		(303	)		1,428

Charged to income statement		(75	)		400			(336	)		563			(187	)		184			(158	)		391

Charged to OCI		(0	)		(3,213	)		-			-			248			-			1			(2,964	)

Net exchange differences		1			180			(72	)		88			(12	)		(24	)		(13	)		147

Disposal of a business		(1	)		1			3			(5	)		-			-			2			(0	)

Transfers to disposal groups		(685	)		168			195			(1	)		(94	)		(454	)		26			(845	)

Transfer (to)/from current income tax		-			-			-			-			-			25			-			25

Transfer (to) /from other headings		-			(95	)		97			-			-			-			(3	)		(1	)

Other		-			-			-			-			-			(1	)		(3	)		(3	)

At December 31, 2022		15			(737	)		(1,515	)		2,351			(199	)		(1,287	)		(450	)		(1,823	)

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

Transfer to/from current income tax relates to the deferred tax asset for the loss carry forward position of the Dutch fiscal unity.

Deferred tax assets are recognized for tax losses and credits carried forward to the extent that the realization of the related tax benefit through future taxable profits is probable. For an amount of gross EUR 1,176 million; an amount of tax EUR 477 million related to tax losses carried forward (2021: gross EUR 1,247 million; tax EUR 301 million) and an amount of tax EUR 595 million related to tax credits carried forward (2021: tax EUR 491 million) the realization of the deferred tax asset is dependent on the projection of future taxable profits.

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

	2022		2021		2022		2021

< 5 years		58		62		16		15

≥ 5 – 10 years		9		24		2		4

≥ 10 – 15 years		-		-		59		55

≥ 15 – 20 years		-		-		-		-

Indefinitely		655		598		169		151

At December 31		721		684		247		224

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

Deferred corporate income tax assets in respect of deductible temporary differences are recognized to the extent that the realization of the related tax benefit through future taxable profits is probable. For the following amounts relating to deductible temporary differences the realization of the deferred corporate income tax asset is dependent on future taxable profits in excess of the profits arising from the reversal of existing taxable temporary differences.



	Gross amounts				Deferred tax assets

	2022		2021		2022		2021

Deferred corporate income tax asset dependent on retaining bonds and similar investments until the earlier of market recovery or maturity		6,265		-		1,306		-

Deferred corporate income tax asset dependent on future taxable profits		27		32		7		8

At December 31		6,292		32		1,313		8

For an amount of gross EUR 423 million; tax EUR 109 million related to deferred tax assets for tax losses from the continued operations the recognition is depended on the reversal of taxable temporary differences, refer to note

51 Discontinued operations.

Aegon did not recognize deferred tax assets in respect of deductible temporary differences relating to Financial assets and Other items for the amount of gross EUR 29 million; tax EUR 5 million (2021: gross EUR 30 million; tax EUR 6 million).

In 2021 deferred tax liabilities have not been recognized for withholding tax and other taxes that would be payable on the unremitted earnings of certain subsidiaries. The unremitted earnings totaled gross EUR 1,770 million; tax EUR 455 million calculated at the enacted rates. In 2022 an amount of gross EUR 1,758 million; tax EUR 454 million was recognized which is accounted for in discontinued operations and the remaining amount of gross EUR 11 million; tax EUR 1 million is no longer accounted for since this related to the divested business of Hungary.

Deferred taxes are

non-current

by nature and the majority of the deferred tax assets and liabilities will therefore reverse after more than one year after the balance sheet date. For an amount of EUR 109 million deferred tax assets will reverse within one year.