Nokia 2015 Annual Report Download - page 153
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151
Financial statements
NOKIA IN 2015
Current income tax liabilities and assets include net EUR 394 million (EUR 387 million in 2014) related to uncertain tax positions with inherently
uncertain timing of cash outows.
Prior period income tax returns for certain Group companies are under examination by local tax authorities. The Group’s business and
investments, especially in emerging market countries, may be subject to uncertainties, including unfavorable or unpredictable tax treatment.
Management judgment and a degree of estimation are required in determining the tax expense or benet. Even though management does not
expect that any signicant additional taxes in excess of those already provided for will arise as a result of these examinations, the outcome or
actual cost of settlement may vary materially from estimates.
In 2013, the tax authorities in India commenced an investigation into withholding tax in respect of payments by Nokia India Private Limited to
Nokia Corporation for the supply of operating software. Subsequently, the authorities extended the investigation to other related tax
consequences and issued orders and made certain assessments. The litigation and assessment proceedings are pending. The Group has denied
all such allegations and continues defending itself in various Indian litigation proceedings and under both Indian and international law, while
extending its full cooperation to the authorities.
14. Deferred taxes
EURm
2015 2014
Deferred
tax assets
Deferred
tax liabilities Net balance
Deferred
tax assets
Deferred
tax liabilities Net balance
Tax losses carried forward and unused taxcredits 916 – 967 –
Undistributed earnings – (15) – (18)
Intangible and tangible assets 1 321 (154) 1 254 (188)
Prepaid pension costs 1 (9) 2 (18)
Other non-current assets 4 (12) 12 (9)
Inventories 85 (6) 142 (10)
Other current assets 43 (41) 75 (12)
Dened benet pension liabilities 154 (3) 183 (9)
Other non-current liabilities 1 (2) – (11)
Provisions 106 (3) 159 (34)
Other current liabilities 191 (33) 220 (25)
Other temporary dierences 29 – 11 (3)
Total before netting 2 851 (278) 2 573 3 025 (337) 2 688
Reclassication due to netting of deferred tax
assets and liabilities (217) 217 – (305) 305 –
Total after netting 2 634 (61) 2 573 2 720 (32) 2 688