The movement in the deferred income tax account after set-offs is as follows:
| (all amounts in Euro thousands) |
Group |
Company |
| |
2016 |
2015 |
2016 |
2015 |
| Opening balance, net deferred liability |
162,980 |
181,568 |
7,518 |
3,365 |
| Income statement charge (note 8) |
-71,869 |
-5,678 |
5,559 |
3,166 |
| Tax charged to equity through other comprehensive income |
-9,704 |
1,386 |
-639 |
897 |
| Deferred tax adjustment due to change in income tax rates |
- |
-21,960 |
- |
90 |
| Additions due to acquisition of joint venture (note 30) |
1,605 |
- |
- |
- |
| Fair value adjustments due to joint venture acquisition (note 30) |
2,062 |
- |
- |
- |
| Exchange differences |
-49,448 |
7,664 |
- |
- |
| Ending balance, net deferred liability |
35,626 |
162,980 |
12,438 |
7,518 |
| (all amounts in Euro thousands) |
Group |
Company |
| |
2016 |
2015 |
2016 |
2015 |
| Analysis of deferred tax liabilities (before set - offs) |
|
| Property, plant and equipment |
167,061 |
212,717 |
32,568 |
35,055 |
| Mineral deposits |
33,866 |
33,588 |
- |
- |
| Intangible assets |
47,461 |
47,372 |
52 |
127 |
| Unrealized foreign exchange differences |
-62 |
9,149 |
- |
- |
| Provisions |
1,455 |
1,454 |
1,800 |
1,800 |
| Long term borrowings |
- |
31 |
- |
31 |
| Investments |
1,392 |
2,756 |
- |
- |
| Receivables and prepayments |
351 |
351 |
- |
- |
| Trade and other payables |
635 |
417 |
631 |
416 |
| Available for sale financial assets |
- |
40 |
- |
40 |
| Prepaid expenses |
1,476 |
1,367 |
- |
- |
| Cash and cash equivalents |
131 |
- |
131 |
- |
| Other |
1,471 |
1,948 |
- |
- |
| |
255,237 |
311,190 |
35,182 |
37,469 |
| Analysis of deferred tax assets (before set - offs) |
|
| Intangible assets |
-8,125 |
-10,534 |
- |
- |
| Investments & other non-current receivables |
-3,598 |
-3,500 |
-2,979 |
-2,979 |
| Inventories |
-4,213 |
-4,169 |
-2,615 |
-2,549 |
| Post-employment and termination benefits |
-10,133 |
-10,225 |
-4,602 |
-3,794 |
| Receivables and prepayments |
-8,364 |
-8,352 |
-1,584 |
-1,144 |
| Tax losses carried forward (note 8) |
-156,206 |
-74,146 |
-6,582 |
-13,913 |
| Interest expense tax carried forward |
-222 |
-13,336 |
-222 |
-2,094 |
| Deferred income |
-1,280 |
-938 |
- |
- |
| Lease obligations |
-7,070 |
-4,941 |
- |
- |
| Government grants and other non current liabilities |
-1,123 |
-1,186 |
-1,123 |
-1,186 |
| Provisions and accrued expenses |
-19,007 |
-16,630 |
-3,037 |
-2,292 |
| Trade and other payables |
-8 |
-25 |
- |
- |
| Other |
-262 |
-228 |
- |
- |
| |
-219,611 |
-148,210 |
-22,744 |
-29,951 |
| Net deferred tax liability |
35,626 |
162,980 |
12,438 |
7,518 |
Deferred income tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities and when the deferred income taxes relate to the same fiscal authority.