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Taxation (Tables) | 12 Months Ended
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Dec. 31, 2023
Taxation [abstract] |
Summary of changes in deferred tax |
Changes in deferred tax
in EUR million 2023 | Net liability (-) Net asset (+) opening balance | Change through equity | Change through net result | Exchange rate difference s | Changes in the composition of the group and other changes | Net liability (-) Net asset (+) ending balance
Financial assets at FVOCI | 81 | -10 | -3 | -4 |  | 64
Financial assets and liabilities at FVPL | -2,739 |  | 1,264 | 13 |  | -1,461
Depreciation | -13 |  | -6 | 3 | 4 | -13
Cash flow hedges | 752 | -251 |  | 1 |  | 502
Pension and post-employment benefits | -54 | 31 | -7 | -4 |  | -33
Other provisions | 59 |  | -12 | -3 | 4 | 48
Loans and advances | 612 | 8 | -140 | -6 | 2 | 475
Unused tax losses carried forward | 327 |  | -128 | 11 | -1 | 209
Other | -251 | 13 | 90 | -2 | -4 | -154
Total | -1,227 | -209 | 1,059 | 10 | 5 | -362
Presented in the statement of financial position as: |  |  |  |  |  |
– Deferred tax liabilities | -2,652 |  |  |  |  | -1,447
– Deferred tax assets | 1,425 |  |  |  |  | 1,085
| -1,227 |  |  |  |  | -362
Changes in deferred tax
in EUR million 2022 | Net liability (-) Net asset (+) opening balance | Change through equity | Change through net result | Exchange rate differences | Changes in the composition of the group and other changes | Net liability (-) Net asset (+) ending balance
Financial assets at FVOCI | -71 | 151 | 5 | -3 |  | 81
Financial assets and liabilities at FVPL | 746 |  | -3,493 | 9 |  | -2,739
Depreciation | -7 |  | -5 | -2 |  | -13
Cash flow hedges | -126 | 875 |  | 2 |  | 752
Pension and post-employment benefits | -49 | 6 | -13 | 8 | -7 | -54
Other provisions | 19 |  | 44 | -4 |  | 59
Loans and advances | 430 |  | 177 | -3 | 7 | 612
Unused tax losses carried forward | 199 |  | 137 | -8 |  | 327
Other | -148 | -123 | 26 | -6 |  | -251
Total | 991 | 910 | -3,122 | -5 |  | -1,227
Presented in the statement of financial position as: |  |  |  |  |  |
– deferred tax liabilities | -311 |  |  |  |  | -2,652
– deferred tax assets | 1,303 |  |  |  |  | 1,425
| 991 |  |  |  |  | -1,227
Summary of deferred tax in connection with unused tax losses carried forward |
Deferred tax in connection with unused tax losses carried forward
in EUR million | 2023 | 2022
Total unused tax losses carried forward | 1,870 | 2,668
Unused tax losses carried forward not recognised as a deferred tax asset | 815 | 937
Unused tax losses carried forward recognised as a deferred tax asset | 1,055 | 1,731
Average tax rate | 19.9% | 21.1%
Deferred tax asset | 209 | 365
Summary of total unused tax losses carried forward analysed by expiry terms |
Total unused tax losses carried forward analysed by expiry terms
| No deferred tax | Deferred tax
in EUR million | 2023 | 2022 | 2023 | 2022
Within 1 year |  |  |  | 591
More than 1 year but less than 5 years | 126 | 120 | 633 | 587
More than 5 years but less than 10 years | 9 | 9 | 2 | 2
More than 10 years but less than 20 years |  |  |  |
Unlimited | 681 | 808 | 421 | 550
| 815 | 937 | 1,055 | 1,731
Breakdown of certain net deferred tax asset positions by jurisdiction |
Breakdown of certain net deferred tax asset positions by jurisdiction
in EUR million | 2023 | 2022
Poland | 244 | 391
France |  | 70
Slovakia | 1 |
China | 2 |
Australia | 1 |
Hong Kong | 8 | 6
United States of America |  | 1
Türkiye | 41 | 7
Taiwan | 11 | 8
| 308 | 483
Summary of taxation by type |
Taxation by type
| Netherlands | Rest of the world | Total
in EUR million | 2023 | 2022 | 2021 | 2023 | 2022 | 2021 | 2023 | 2022 | 2021
Current taxation | 601 | 498 | 459 | 2,121 | 1,510 | 1,448 | 2,722 | 2,008 | 1,908
Deferred taxation | -141 | 901 | 269 | -918 | 2,221 | 129 | -1,059 | 3,122 | 399
| 460 | 1,399 | 729 | 1,202 | 3,731 | 1,578 | 1,662 | 5,130 | 2,306
Reconciliation of weighted average statutory income tax rate to effective income tax rate |
Reconciliation of the weighted average statutory income tax rate to ING Group’s effective income tax rate
in EUR million | 2023 | 2022 | 2021
Result before tax from continuing operations | 6,037 | 17,358 | 8,385
Weighted average statutory tax rate | 22.7% | 27.5% | 24.7%
Weighted average statutory tax amount | 1,371 | 4,770 | 2,074
Permanent differences affecting current tax |  |  |
Participation exemption | -43 | -64 | -68
Other income not subject to tax | -68 | -40 | -32
Expenses not deductible for tax purposes | 398 | 403 | 201
Current tax from previously unrecognised amounts | 1 | 10 | 51
State and local taxes | 99 | 68 | 64
Adjustments to prior periods | -72 | -29 | -12
Differences affecting deferred tax |  |  |
Impact on deferred tax from change in tax rates | 2 | 5 | 9
Deferred tax benefit from previously unrecognised amounts | -30 | -3 | -18
Write-off/reversal of deferred tax assets | 4 | 10 | 37
Effective tax amount | 1,662 | 5,130 | 2,306
Effective tax rate | 27.5% | 29.6% | 27.5%
Summary of income tax related to other comprehensive income |
Income tax related to components of other comprehensive income
in EUR million | 2023 | 2022 | 2021
Unrealised revaluations financial assets at fair value through other comprehensive income and other revaluations | -7 | 142 | 17
Realised gains/losses transferred to the statement of profit or loss (reclassifications from equity to profit or loss) | -3 | 8 | 12
Changes in cash flow hedge reserve | -251 | 875 | 233
Remeasurement of the net defined benefit asset/liability | 31 | 6 | -54
Changes in fair value of own credit risk of financial liabilities at fair value through profit or loss | 2 | 19 | -8
Exchange rate differences and other | 19 | -141 | -77
Total income tax related to components of other comprehensive income | -209 | 910 | 123

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