Chrysler 2008 Annual Report Download - page 279

Deferred tax assets have been recognised by carrying out a critical analysis to ensure that the conditions for their future realisation
exist, through the use of updated strategic business plans and the related tax plans. As a consequence, the total theoretical future
tax benefits arising from deductible temporary differences (€9,531 thousand at 31 December 2008 and €6,632 thousand at 31
December 2007) and tax loss carryforwards (€59,275 thousand at 31 December 2008 and €175,224 thousand at 31 December 2007),
was reduced by €31,905 thousand at 31 December 2008 (€147,878 thousand at 31 December 2007).
Total temporary differences (deductible and taxable) and total tax losses at 31 December 2008 and the amounts for which deferred
tax assets have not been recognised, analysed by year of expiry, are set out in the following table:
Year of expiry
Total at
31 December
(€ thousands) 2008 2009 2010 2011 2012 Beyond 2012
Temporary differences and tax losses relating to IRES:
- Deductible temporary differences 33,128 23,163 3,201 795 687 5,282
- Taxable temporary differences (132,654) (130,277) – – – (2,377)
- Tax losses 215,543 – – 148,246 67,297 –
- Temporary differences and tax losses for which
deferred tax assets have not been recognised (116,017) 107,114 (3,201) (149,041) (67,984) (2,905)
Temporary differences and tax losses relating
to State taxation ––– –––
Temporary differences relating to IRAP:
- Deductible temporary differences 8,736 1,286 949 822 720 4,959
- Taxable temporary differences (130,277) (130,277) – – – –
Temporary differences and tax losses relating
to local taxation (121,541) (128,991) 949 822 720 4,959
Fiat S.p.A. Statutory Financial Statements at 31 December 2008278