Notes to the Group’s Financial Statements

Select note 1–42
21 Deferred tax assets and liabilities
Changes in deferred tax during the financial period 2016
EURm 1.1. Recognised in comprehensive income statement Recognised in equity Exchange differences 31.12.
Deferred tax assets
Tax losses carried forward 15 0 0 0 15
Employee benefits 35 -8 1 0 28
Other deductible temporary differences 19 -7 0 1 13
Total 68 -15 1 1 56
Netting of deferred taxes -28
Deferred tax assets in the balance sheet 27
Deferred tax liabilities
Depreciation differences and untaxed reserves 251 6 0 0 257
Changes in fair values 221 -2 48 -2 265
Other taxable temporary differences 28 4 1 0 33
Total 500 8 49 -2 555
Netting of deferred taxes -28
Total deferred tax liabilities in the balance sheet 527
Changes in deferred tax during the financial period 2015
EURm 1.1. Recognised in comprehensive income statement Recognised in equity Exchange differences 31.12.
Deferred tax assets
Tax losses carried forward 15 0 - 0 15
Changes in fair values 85 -50 -3 3 35
Other deductible temporary differences 8 -14 4 -1 -3
Total 107 -63 0 2 46
Netting of deferred taxes -12
Deferred tax assets in the balance sheet 35
Deferred tax liabilities
Depreciation differences and untaxed reserves 275 -21 - -3 251
Changes in fair values 231 4 -16 2 221
Other taxable temporary differences 19 12 -25 1 7
Total 526 -5 -41 0 479
Netting of deferred taxes -12
Total deferred tax liabilities in the balance sheet 468
In Sampo plc, EURm 24 of deferred tax asset has not been recognised on unused tax losses. The first losses will expire in 2019.

In life insurance, EURm 4 of deferred tax asset has not been recognised on unused tax losses.
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