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Deferred tax assets and liabilities

12 Months Ended

Dec. 31, 2023

18.Deferred tax assets and liabilities

Recognized deferred tax assets and liabilities

Deferred tax assets and liabilities at 31 December 2023 and 2022 are attributable to the following:


	Assets		Liabilities		Net
	2023	2022	2023	2022	2023	2022
Property, plant and equipment and intangible assets	1,352,654	1,081,120	(7,085,009)	(12,513,875)	(5,732,355)	(11,432,755)
Derivative instruments	38,805	49,808	(617,192)	(902,064)	(578,387)	(852,256)
Reserve for defined benefit plans and provisions	1,413,779	750,939	(29,350)	(12,763)	1,384,429	738,176
Tax losses carried forward	1,638,003	3,812,018	-	-	1,638,003	3,812,018
Tax allowances	577,944	159,793	-	(1,089)	577,944	158,704
Other assets and liabilities (*)	1,718,830	1,713,733	(165,879)	(396,290)	1,552,951	1,317,443
Deferred tax assets/(liabilities)	6,740,015	7,567,411	(7,897,430)	(13,826,081)	(1,157,415)	(6,258,670)
Offsetting	(5,611,266)	(4,834,998)	5,611,266	4,834,998	-	-
Net deferred tax assets/(liabilities)	1,128,749	2,732,413	(2,286,164)	(8,991,083)	(1,157,415)	(6,258,670)

(*)

Mainly comprises of loans, bonds, prepaid expenses and lease liabilities’ deferred tax effects.

Movement in deferred tax assets/ (liabilities) for the years ended 31 December 2023 and 2022 were as follows:


	2023	2022
Opening balance, net	(6,258,670)	(9,005,440)
Income tax income	5,358,950	3,649,805
Tax charge relating to components of other comprehensive income	1,136,598	297,112
Transferred to assets held for sale (Note 41)	(1,315,876)	-
Exchange differences	(78,417)	(1,200,147)
Closing balance, net	(1,157,415)	(6,258,670)

The Group did not recognize deferred income tax assets of TL 1,815,562 (31 December 2022: TL2,304,900) in respect of tax losses amounting to TL 8,533,187 (31 December 2022: TL 11,979,388) that can be carried forward against future taxable income because it is not probable that future taxable profits will be available against which unrecognized tax losses can be utilized. The unused tax losses were incurred mainly by BeST.

Unused tax losses will expire at the following dates:


Expiration Date		Amount
2024		1,120,896
2025		3,893,414
2026		153,032
2027		2,181,097
2028		595,424
2030		247,881
2031		308,009
Indefinite		33,434
Total		8,533,187