25 – Deferred tax Index141516171819202122232425 (XLSX:) Download Deferred taxes In EUR mn Deferred tax assets total Deferred tax assets not recognized Deferred tax assets recognized Deferred tax liabilities 2020 Intangible assets 209 20 188 606 Property, plant and equipment 137 89 48 2,322 Inventories 37 — 37 27 Derivatives 539 — 539 597 Receivables and other assets 55 17 38 53 Deferred taxes reclassified to assets and liabilities associated with assets held for sale 27 22 5 12 Provisions for pensions and similar obligations 291 151 140 111 Provisions for decommissioning, restoration obligations and environmental costs 1,318 14 1,305 — Other provisions 121 — 121 34 Liabilities 305 60 245 23 Tax impairments according section 12 (3)/2 of the Austrian Corporate Income Tax Act (KStG) 226 — 226 — Tax loss carryforwards 1,654 780 875 — Outside basis differences — — — 40 Total 4,919 1,153 3,765 3,823 Netting (same tax jurisdictions) (2,581) (2,581) Deferred taxes reclassified to assets and liabilities associated with assets held for sale (5) (12) Deferred taxes as per statement of financial position 1,179 1,229 2019 Intangible assets 114 22 91 751 Property, plant and equipment 124 68 56 1,699 Inventories 32 0 32 28 Derivatives 496 — 496 588 Receivables and other assets 51 16 34 80 Provisions for pensions and similar obligations 215 144 70 48 Provisions for decommissioning, restoration obligations and environmental costs 1,362 39 1,323 — Other provisions 130 0 130 32 Liabilities 265 61 204 3 Tax impairments according section 12 (3)/2 of the Austrian Corporate Income Tax Act (KStG) 275 — 275 — Tax loss carryforwards 1,091 1,011 80 — Outside basis differences — — — 7 Total 4,153 1,361 2,791 3,236 Netting (same tax jurisdictions) (2,105) (2,105) Deferred taxes as per statement of financial position 686 1,132 Deferred taxes were mainly related to different valuation methods, differences in impairments, write-offs, depreciation and amortization as well as different definition of costs. Overall deferred taxes in 2020 were significantly impacted by the acquisition of additional shares in Borealis AG (see Note 3 – Changes in group structure). Deferred taxes of Borealis Group were mainly related to intangible assets and property, plant and equipment. The overall net deferred tax asset position of tax jurisdictions which suffered a tax loss either in current or preceding year amounted to EUR 720 mn, thereof EUR 640 mn is attributable to the Austrian tax group (2019: EUR 268 mn, thereof Austrian tax group EUR 260 mn). In 2020 as well as in the previous year, a valuation allowance for deferred tax assets for the Austrian tax group was recognized. As of December 31, 2020, OMV recognized tax losses carryforward of EUR 6,302 mn before allowances (2019: EUR 4,179 mn), thereof EUR 3,331 mn (2019: EUR 351 mn) are considered recoverable for calculation of deferred taxes. Due to tax synergies from the acquisition of additional shares in Borealis AG, deferred tax assets of the Austrian tax group increased in 2020 by approximately EUR 500 mn, taking into consideration the expected five-year positive taxable result of Borealis tax group members. Eligibility of losses for carryforward expires as follows: (XLSX:) Download Tax losses carryforward In EUR mn 2020 2019 Base amount (before allowances) thereof not recognized Base amount (before allowances) thereof not recognized 2020 — — 5 5 2021 5 5 0 0 2022 0 0 1 1 2023 2 2 1 1 2024 4 4 112 111 2025 48 17 After 2025/2024 47 24 61 14 Unlimited 6,196 2,919 3,998 3,694 Tax losses carryforward 6,302 2,971 4,179 3,827 The majority of tax losses carryforward not recognized referred to the Austrian tax group. As of December 31, 2020, the aggregate amount of temporary differences associated with fully consolidated and equity-accounted investments for which deferred tax liabilities have not been recognized amounted to EUR 4,657 mn (2019: EUR 4,485 mn). Capital gains on disposals of investments may be realized on various levels of the Group depending on the structuring of potential divestments. Due to the complexity of the group and the associated tax implications simplifying assumptions for the calculation have been made that aim to diminish cascade effects. schließen EUR Euro schließen mn Million schließen EUR Euro 24 – LiabilitiesSupplementary Information on the Financial Position 102-45 gri-id41:102-45
