83 (r| Interest income, interest expenses and other net finance income and expenses Interest income and expenses are recognised as they accrue, using the effective interest method unless collectibility is in doubt. Other net finance income comprises dividend income, gains on the disposal of available-for-sale investments, changes in the fair value of investments designated at fair value through profit or loss and held for trading investments and gains on hedging instruments that are recognised in the income statement. Dividend income is recognised in the income statement on the date that Heineken's right to receive payment is established, which in the case of quoted securities is the ex-dividend date. Other net finance expenses comprise unwinding of the discount on provisions, changes in the fair value of investments designated at fair value through profit or loss and held for trading investments, impairment losses recognised on investments, and losses on hedging instruments that are recognised in the income statement. Foreign currency gains and losses are reported on a net basis. (s| Income tax Income tax comprises current and deferred tax. Income tax is recognised in the income statement except to the extent that it relates to items recognised directly to equity, in which case it is recognised in equity. Current tax is the expected tax payable on the taxable income for the year, using tax rates enacted or substantially enacted at the balance sheet date, and any adjustment to tax payable in respect of p evious years. D< ferred tax is recognised using the balance sheet method, for temporary differences between the c -Tying amounts of assets and liabilities for financial reporting purposes and the amounts used for t <ation purposes. Deferred tax is not recognised for the following temporary differences: the initial r cognition of goodwill, the initial recognition of assets or liabilities in a transaction that is not a business c nbination and that affects neither accounting nor taxable profit, and differences relating to investments in subsidiaries and joint ventures to the extent that the Company is able to control the timing of the /ersal of the temporary difference and they will probably not reverse in the foreseeable future. D' 'erred income tax is determined using tax rates (and laws) that have been enacted or substantially e acted by the balance sheet date and are expected to apply when the related deferred income tax asset is realised or the deferred income tax liability is settled. Deferred tax assets and liabilities are o; set if there is a legally enforceable right to offset current tax liabilities and assets, and they relate f ncome taxes levied by the same tax authority on the same taxable entity, or on different tax entities, but they intend to settle current tax liabilities and assets on a net basis or their tax assets and liabilities v be realised simultaneously. A deferred tax asset is recognised only to the extent that it is probable that future taxable profits will b' available against which the temporary difference can be utilised. Deferred tax assets are reviewed a each balance sheet date and are reduced to the extent that it is no longer probable that the related t benefit will be realised. V en an entity has a history of recent losses, the entity recognises a deferred tax asset arising from u used tax losses or tax credits only to the extent that the entity has sufficient taxable temporary d erences or there is convincing other evidence that sufficient taxable profit will be available against w ich the unused tax losses or unused tax credits can be utilised by the entity. Heineken N.V. Annual Report 2007

Jaarverslagen en Personeelsbladen Heineken

Jaarverslagen | 2007 | | pagina 81