AAK Annual Report 2020

AAK Annual Report 2020 94 Deferred tax assets and deferred tax liabilities Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset the recognized tax assets and liabilities and when the deferred taxes refer to the same tax authority. The offset amounts are as follows: Group Parent Deferred tax assets 2020 2019 2020 2019 Tax loss carry-forwards 13 21 - - Non-current assets 20 24 - - Right-of-use assets 7 4 0 0 Inventory -2 -3 - - Current assets 35 1 5 5 Provisions 103 63 - - Current liabilities 11 34 - - At year-end 187 144 5 5 Group Parent Deferred tax liabilities 2020 2019 2020 2019 Non-current assets 477 489 - - Inventory 30 -4 - - Current assets 27 19 - - Provisions -13 6 - - Current liabilities -41 1 - - At year-end 480 511 - - Income tax liabilities and tax assets In addition to deferred tax assets and liabilities, AAK has the following current tax liabilities and tax receivables: Group Parent 2020 2019 2020 2019 Current tax liabilities -360 -474 - -1 Current tax receivables 398 295 9 8 Income tax liabilities/tax assets 38 -179 9 7 Note 11 | Tax expenses