18.

Deferred tax assets and liabilities

Recognized deferred tax assets and liabilities

Deferred tax assets and liabilities at 31 December 2018 and 2017 are attributable to the following:


	Assets						Liabilities						Net
	2018			2017			2018			2017			2018			2017
Property, plant and equipment and intangible assets (*)		106,128			41,903			(936,167	)		(680,134	)		(830,039	)		(638,231	)
Investment		32,926			32,926			—			—			32,926			32,926
Derivative instruments		15,380			1,492			(429,162	)		(182,806	)		(413,782	)		(181,314	)
Reserve for employee termination benefits and provisions		155,132			202,112			(45,581	)		(64	)		109,551			202,048
Asset classified as held for sale		—			—			—			(92,327	)		—			(92,327	)
Tax losses carried forward		224,179			—			—			—			224,179			—
Tax allowances		20,554			10,775			—			—			20,554			10,775
Other assets and liabilities (**)		248,251			545,968			(101,268	)		(434,907	)		146,983			111,061

Deferred tax assets/(liabilities)		802,550			835,176			(1,512,178	)		(1,390,238	)		(709,628	)		(555,062	)

Offsetting		(649,818	)		(739,116	)		649,818			739,116			—			—

Net deferred tax assets/ (liabilities)		152,732			96,060			(862,360	)		(651,122	)		(709,628	)		(555,062	)

(*)	The impact of adoption of IFRS 15, “Revenue from contracts with customers” is accounted under Property, plant and equipment and intangible assets (Not 2)

(**)	Mainly comprises of loans and bonds’ deferred tax assets.

Movement in deferred tax assets/ (liabilities) for the years ended 31 December 2018 and 2017 were as follows:


	2018			2017
Opening balance		(555,062	)		(406,905	)
IFRS 9 and 15 effects		(141,213	)		—
Income statement charge		159,472			(133,791	)
Tax charge relating to components of other comprehensive income		(157,203	)		(6,449	)
Prior year corporate tax base differences		(8,608	)		(2,729	)
Exchange differences		(7,014	)		(5,188	)

Closing balance, net		(709,628	)		(555,062	)

The Group did not recognise deferred income tax assets of TL 5,310,000 in respect of tax losses amounting to TL 972,730 that can be carried forward against future taxable income. The unused tax losses were mainly incurred by lifecell and Belarusian Telecom that are not likely to generate taxable income in the foreseeable future.

Unused tax losses will expire at the following dates:


Expiration Date	Amount
2019		808
2020		581
2021		646
2022		368,109
2023		172,264
2024		303,045
2025		1,023,650
2026		47,466
2027		488,572
2028		308,541
Indefinite		2,596,318

Total		5,310,000