Notes to the consolidated financial statements
102 Financial statements
18. Deferred tax assets and liabilities
Recognised deferred tax assets and liabilities
Deferred tax assets and liabilities are attributable to the following items:
In millions of EUR
2007
Assets
2006
2007
Liabilities
2006
2007
Net
2006
Property, plant equipment
21
21
(388)
(387)
(367)
(366)
Intangible assets
65
79
(45)
(41)
20
38
Investments
3
9
(2)
(2)
1
7
Inventories
15
12
-
(2)
15
10
Loans and borrowings
1
(3)
-
1
(3)
Employee benefits
113
134
-
1
113
135
Provisions
52
73
-
5
52
78
Other items
98
72
(92)
(58)
6
14
Tax losses carry-forwards
17
13
-
(2)
17
11
Tax assets/(liabilities)
Set-off of tax
385
(49)
410
(15)
(527)
49
(486)
15
(142)
(76)
Net tax assets/(liabilities)
336
395
(478)
(471)
(142)
(76)
Tax losses carry-forwards
Heineken has losses carry-forwards for an amount of €193 million (2006: €119 million) as per
31 December 2007 which expire in the following years:
In millions of EUR
2007
2006
2007
-
23
2008
18
24
2009
12
13
2010
8
7
2011
3
3
2012
2
After 2012 respectively 2011 but not unlimited
65
36
Unlimited
85
13
193
119
Recognised as deferred tax assets gross
(71)
(42)
Unrecognised gross
122
77
Unrecognised net
33
21
The tax losses expire in different years. Deferred tax assets have not been recognised in respect of
these items because it is not probable that future taxable profit will be available against which Heineken
can utilise the benefits thereof.
The increase of €45 million in unrecognised gross tax losses mainly relates to impairments taken for
which it is uncertain that they will be recovered by future profits.
Heineken N.V. Annual Report 2007
