Chrysler 2010 Annual Report Download - page 327

FIAT S.P.A.
STATUTORY
FINANCIAL
STATEMENTS AT
31 DECEMBER
2010
NOTES
326
A breakdown of deferred tax liabilities, net of deferred tax assets, is provided in the following table.
Recognized
31 December in income Charged 31 December
(€ thousand) 2009 statement to equity 2010
Deferred tax assets arising from:
Taxed provisions and other minor differences 8,300 (515) - 7,785
Total deferred tax assets 8,300 (515) - 7,785
Deferred tax liabilities arising from:
Measurement of construction contracts by the percentage completion method - (47,010) - (47,010)
Others (422) 37 - (385)
Total deferred tax liabilities (422) (46,973) - (47,395)
Theoretical tax benefit arising from tax loss carryforwards 378,397 (318,555) - 59,842
Adjustments for assets whose recoverability is not probable (386,275) 359,043 - (27,232)
Total deferred tax liabilities, net of deferred tax assets - (7,000) - (7,000)
Deferred tax assets were determined through a critical analysis of the existence of the conditions for their future realization, using updated strategic plans
and the related tax plans. As a consequence, the total theoretical future tax benefit arising from deductible temporary differences (€7,785 thousand at
31 December 2010 and €8,300 thousand at 31 December 2009) and tax loss carryforwards (€59,842 thousand at 31 December 2010 and €378,397
thousand at 31 December 2009) was rzeduced by €27,232 thousand at 31 December 2010 (€386,275 thousand at 31 December 2009).
Total temporary differences (deductible and taxable) and tax losses at 31 December 2010 and amounts for which deferred tax assets have not been
recognized, broken down by year of expiry, are as follows:
Year of expiry
Total at
31 December Beyond
(€ thousand)
2010 2011 2012 2013 2014 2014
Temporary differences and tax losses relating to IRES:
Deductible temporary differences 28,270 21,433 687 687 687 4,776
Taxable temporary differences (146,852) (145,451) - - - (1,401)
Tax losses 217,606 151,667 48,708 - 5,205 12,026
Temporary differences and tax losses for which
deferred tax assets have not been recognized (99,024) (27,649) (49,395) (687) (5,892) (15,401)
Temporary differences and tax losses subject to national taxation - - - - - -
Temporary differences relating to IRAP:
Deductible temporary differences 222 222 - - - -
Taxable temporary differences (145,451) (145,451) - - - -
Temporary differences and tax losses subject to local taxation (145,229) (145,229) - - - -