TomTom 2009 Annual Report Download - page 85

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/ 83
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
OF TOMTOM NV
25. DEFERRED INCOME TAX
As at 31 December 2009, the group has a deferred tax liability of €222 million (2008: €229 million). A deferred tax
asset has been recorded amounting to €28 million (2008: €33 million). The deferred tax asset and deferred tax
liability result from timing differences between the tax and accounting treatment of the amortisation of intangible
assets, tax loss carry forwards and certain provisions.
(€ in thousands) 2009 2008
Deferred tax:
To be recovered after more than 12 months -191,958 -188,035
To be recovered within 12 months -1,966 -8,063
-193,924 -196,098
The movement of the deferred tax is as follows:
Stock
Deferred tax compensation Intangible Assessed
(€ in thousands) expense Other assets Provisions losses Total
Balance as at 31 December 2007 14,449 0 898 8,604 0 23,951
Charged / (released) to income -14,258 -8,991 8,471 1,750 -4,270 -17,298
Acquisition of subsidiary 0 2,078 -301,330 -2,466 94,064 -207,654
Net foreign currency exchange
rate differences 0 165 -3,756 0 8,494 4,903
Balance as at 31 December 2008 191 -6,748 -295,717 7,888 98,288 -196,098
Charged / (released) to income 1,456 4,636 10,635 1,959 -19,965 -1,279
Acquisition of subsidiary (note 29) 00-4,877 0 4,877 0
Net foreign currency exchange
rate differences 006,093 0 -2,640 3,453
Balance as at 31 December 2009 1,647 -2,112 -283,866 9,847 80,560 -193,924
Due to the drop in our share price the deferred tax asset related to the stock option plan has been released in 2008.
Deferred tax balances are presented in the balance sheet as follows:
(€ in thousands) 2009 2008
Deferred tax:
Deferred tax assets 28,205 32,977
Deferred tax liabilities -222,129 -229,075
-193,924 -196,098