Translation of "Steuerliche verlustvorträge" in English

In Germany, tax losses can be carried forward without time restriction.

Tax losses can be carried forward in the USA and Canada for 20 years.

No deferred tax claims were recognized for the following deferred tax losses/credits available for carry-forward:

In the United States, tax losses can be carried forward for 20 years.

In his view, tax losses carried forward should remain unrestricted in terms of time and amount.

There were also foreign tax loss carryforwards totalling €547.8million (31December2015: €142.2million).

There were also foreign tax loss carryforwards totalling €190,476 thousand (31December 2011: €187,438 thousand).

Since 2006, it has been possible to carry forward tax losses for a period of up 20 years.

Income tax assets arising from tax loss carry-forwards are recognised to the extent that the realisation of the related tax benefits through future taxable profits is likely.

The total amount of unrecognised deferred tax assets relating to loss carryforwards is therefore €139.6million (2015: €29.3million), of which €130.1million (2015: €27.1million) concerns tax losses that can be carried forward indefinitely.

Deferred tax assets relating to deductible temporary differences, tax credits or tax loss carryforwards are recognized where it is sufficiently probable that taxable income will be available in the future to enable them to be used.

The total amount of unrecognised deferred tax assets relating to loss carryforwards was therefore €34.2million (2013: €49.7million), of which €32.3million (2013: €41.0million) concerns tax losses that can be carried forward indefinitely.

Factors that affected the rise of the total tax rate included interest from purchase financing in the amount of €37.7 million, which was added in part when determining income tax, as well as €2.9 million in valuation allowances for tax losses carried forward for MTU Maintenance Canada Ltd., Canada, and €1.5 million for those of MTU Aero Engines North America Inc., USA.

It is anticipated that the Company will have sufficient tax losses to cover any tax liability arising from this transaction.

Deferred income tax assets are recognised for tax loss carry-forwards to the extent that the realisation of the related tax benefit through the future taxable profits is probable.

The total amount of unrecognised deferred tax assets relating to loss carryforwards was therefore €29.3million (2014: €34.2million), of which €27.1million (2014: €32.3million) concerns tax losses that can be carried forward indefinitely.

Unrecognised deferred tax assets relate to tax loss carryforwards of €49.7million (2012: €108.6million), interest carryforwards of €89.1million (2012: €124.0million) and other temporary differences of €0.2million (2012: €0.6million).

No deferred tax assets have been recognised on tax loss carryforwards of €162.0million (2013: €231.8million), on interest carryforwards of €262.1million (2013: €351.1million) or on other temporary differences of €1.2million (2013: €0.7million).

Deferred taxes for tax losses in the amount ofkEUR161,068 (2014:kEUR129,544) and on deductible temporary differences in the amount ofkEUR19,555 (2014:kEUR12,164) were not recognized.

Deferred tax assets and liabilities are recorded for all temporary differences between tax and commercial balance sheets and for losses brought forward for tax purposes as well as for tax credits of the companies included in consolidation.

No deferred tax assets were recognised for tax loss carry-forwards of around € 16.6 billion (previous year: € 16.3 billion) and for temporary differences of around € 3,208 million (previous year: € 696 million), as it can be assumed that the Group will probably not be able to use these tax loss carryforwards and temporary dif- ferences in its tax planning.

This results primarily from effects arising from the adjustment of the intrinsic value of deferred tax assets on tax loss carryforwards and from additions of non-deductible expenses.

As a result of this arrangement, additional deferred tax assets totalling €41.8million were recognised in 2013 in respect of tax loss carryforwards that it had previously not been possible to utilise.

There were also foreign tax loss carryforwards totalling €183,353 thousand (2009: €240,041 thousand).

As of 31 December 2018, tax loss carryforwards of CHF22 million (previous year: CHF 18 million) werecapitalized, resulting in a deferred tax asset of CHF6 million (previous year: CHF4 million).

The total amount of unrecognised deferred tax assets relating to loss carryforwards of €91,636 thousand (2010: €74,263 thousand) concerns tax losses that can be carried forward indefinitely.

As of 31 December 2017, based on the above mentioned estimates, tax loss carryforwards of CHF18 million (previous year: CHF 20 million) were activated resulting in a deferred tax asset of CHF4 million (previous year: CHF5 million).