22. Deferred Tax
Group
Recognised deferred tax assets and liabilities
Assets Gross | (Liabilities) Gross | |||
2020 | 2019 | 2020 | 2019 | |
€’000 | €’000 | €’000 | €’000 | |
Property, plant and equipment | - | - | (2,063) | (2,230) |
Pension asset | - | - | (18,852) | (13,801) |
Tax losses | 13,801 | 13,801 | - | - |
Derivatives – cash flow hedge | - | - | - | - |
Gross Tax Assets/(Liabilities) | 13,801 | 13,801 | (20,915) | (16,031) |
Net deferred tax liability 2020
Opening balance net €’000 | Recognised in income €’000 | Recognised in other comprehensive income €’000 | Closing balance net €’000 | |
Property, plant and equipment | (2,230) | 167 | - | (2,063) |
Pension asset | (13,801) | - | (5,051) | (18,852) |
Tax losses | 13,801 | - | - | 13,801 |
Derivatives – cash flow hedge | - | - | - | - |
Net Tax (Liabilities)/Assets | (2,230) | 167 | (5,051) | (7,114) |
Group
Net deferred tax liability 2019
Opening balance net €’000 | Recognised in income €’000 | Recognised in other comprehensive income €’000 | Closing balance net €’000 | |
Property, plant and equipment | (2,327) | 97 | - | (2,230) |
Pension asset | (6,195) | - | (7,606) | (13,801) |
Tax losses | - | - | 13,801 | 13,801 |
Derivatives – cash flow hedge | 13 | - | (13) | - |
Net Tax (Liabilities)/Assets | (8,509) | 97 | 6,182 | (2,230) |
RTÉ
Recognised deferred tax assets and liabilities
Assets Gross | (Liabilities) Gross | |||
2020 | 2019 | 2020 | 2019 | |
€’000 | €’000 | €’000 | €’000 | |
Property, plant and equipment | 1,045 | 1,090 | - | - |
Pension asset | - | - | (18,852) | (13,801) |
Tax losses | 13,801 | 13,801 | - | - |
Gross Tax Assets/(Liabilities) | 14,846 | 14,891 | (18,852) | (13,801) |
Net deferred tax liability 2020
Opening balance net €’000 | Recognised in income €’000 | Recognised in other comprehensive income €’000 | Closing balance net €’000 | |
Property, plant and equipment | 1,090 | (45) | - | 1,045 |
Pension asset | (13,801) | - | (5,051) | (18,852) |
Tax losses | 13,801 | - | - | 13,801 |
Net Tax Assets/(Liabilities) | 1,090 | (45) | (5,051) | (4,006) |
RTÉ
Net deferred tax asset 2019
Opening balance Net €’000 | Recognised in income €’000 | Recognised in other comprehensive income €’000 | Closing balance Net €’000 | |
Property, plant and equipment | 1,147 | (57) | - | 1,090 |
Pension asset | (6,195) | - | (7,606) | (13,801) |
Tax losses | - | - | 13,801 | 13,801 |
Net Tax Assets/(Liabilities) | (5,048) | (57) | 6,195 | 1,090 |
Unrecognised deferred tax assets (Group and RTÉ)
Television licence fee income that RTÉ receives by way of “grant-in-aid” is subject to corporation tax with effect from 1 January 2007. The Group has trading losses forward for tax purposes of €651 million at 31 December 2020. Due to the uncertainty surrounding when the losses may ultimately be utilised, a deferred tax asset of €13.801 million only has been recognised.