The income tax expenses for the year can be reconciled with the accounting profit as follows:
Result before tax
Income tax expense
Effect of income that is exempt from taxation
Income tax expense recognised in profit or loss
There is no deferred tax asset for tax loss carry forwards and differences in measurement for expected future profitability of Vesteda Project Development B.V.
The total tax loss carry forward can be specified as follows:
The result of the fiscal year can be recognised with the tax loss of 2012 and the remaining losses of 2012 losses (€9 million) can no longer be settled and has evaporated per 31-12-2021.
In accordance with the new tax law from 2022, the tax losses from 2013 can be carried forward without any limitation in the feature up to a maximum of €1 million per year. As per 31-12-2021 the deferred tax asset has not been capitalised.