TomTom 2005 Annual Report Download - page 85

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85
20.฀Deferred฀income฀tax฀
As฀at฀December฀31,฀2005฀the฀Company฀has฀an฀estimated฀deferred฀tax฀liability฀of฀

1.1฀million฀(2004:฀

1.3฀million).฀
A฀deferred฀tax฀asset฀has฀also฀been฀recorded฀amounting฀to฀

1.3฀million฀(2004:฀
฀0).฀The฀deferred฀tax฀asset฀balance฀is฀
included฀in฀the฀other฀receivables฀and฀prepayments฀on฀the฀balance฀sheet.฀The฀deferred฀tax฀asset฀and฀tax฀liability฀both฀result฀
from฀timing฀differences฀between฀the฀tax฀and฀accounting฀treatment฀of฀granted฀share฀options.
21.฀Operating฀lease฀commitments
The฀Company฀has฀long-term฀financial฀commitments,฀which฀are฀not฀shown฀in฀the฀Company’s฀balance฀sheet฀
as฀of฀31฀December฀2005.
These฀are฀operating฀leases฀for฀buildings,฀cars฀and฀office฀equipment,฀which฀consist฀of:
฀ 2004฀ 2005
(in฀
฀thousands)
Commitments฀less฀than฀1฀Year฀ 452฀ 1,698
Commitments฀between฀1฀-฀5฀Years฀ 2,702฀ 4,753
Commitments฀longer฀than฀5฀Years฀ 724฀ 0
฀ 3,878฀ 6,451
No฀discount฀factor฀is฀used฀in฀determining฀the฀operating฀lease฀commitments.