Deferred tax (Tables)

12 Months Ended

Dec. 31, 2019


	2019			2018
Deferred tax assets		193			125
Deferred tax liabilities		1,227			529
Total net deferred tax liability / (asset)		1,035			404


Deferred tax assets comprise temporary differences on:	2019			2018
Real Estate		(520	)		-
Financial assets		76			(7	)
Insurance and investment contracts		440			-
Deferred expenses, VOBA and other intangible assets		(112	)		(125	)
Defined benefit plans		7			12
Tax losses and credits carried forward		183			167
Other		119			79
At December 31		193			125


Deferred tax liabilities comprise temporary differences on:	2019			2018
Real estate		124			520
Financial assets		1,549			807
Insurance and investment contracts		(1,031	)		(1,433	)
Deferred expenses, VOBA and other intangible assets		1,663			1,788
Defined benefit plans		(249	)		(257	)
Tax losses and credits carried forward		(551	)		(147	)
Other		(279	)		(748	)
At December 31		1,227			529

Schedule of NetDeferred Tax Assets and Liabilities has been Recognized

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, 2019		519			814			(1,434	)		1,914			(269	)		(314	)		(837	)		394
Charged to income statement		125			25			(20	)		(176	)		108			63			(11	)		114
Charged to OCI		(8	)		628			-			-			(90	)		-			(9	)		520
Net exchange differences		1			9			(17	)		37			(5	)		(9	)		(17	)		(2	)
Disposal of a business		-			-			-			-			-			-			2			2
Transfer to/from other headings		-			-			-			-			-			(473	)		473			-
Other		7			(3	)		-			-			-			-			3			7
At December 31, 2019		644			1,473			(1,471	)		1,775			(256	)		(734	)		(398	)		1,035

At January 1, 2018		554			1,737			(1,787	)		1,892			(295	)		(296	)		(863	)		942
Acquisitions / Additions		-			-			-			9			-			-			-			9
Charged to income statement		(31	)		(451	)		401			(63	)		23			(1	)		143			22
Charged to OCI		(7	)		(514	)		2			-			17			(2	)		12			(494	)
Net exchange differences		4			46			(51	)		82			(14	)		(4	)		(38	)		25
Transfer to/from other headings		-			(3	)		-			(6	)		-			-			9			-
Other		-			-			-			-			-			(11	)		(90	)		(101	)
At December 31, 2018		519			814			(1,434	)		1,914			(269	)		(314	)		(827	)		404

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 corporate income tax asset is not recognized:


	Gross amounts 1)			Not recognized deferred tax assets
	2019	2018		2019		2018
< 5 years	79		65		20		15
³ 5 – 10 years	18		21		4		5
³ 10 – 15 years	27		20		51		36
³ 15 – 20 years	1		-		-		-
Indefinitely	488		385		107		86
At December 31	613		490		182		142

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