PERNOD-RICARD - URD 2020-21
____ 6. CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Deferred taxes are broken down by nature as follows:
30.06.2020
30.06.2021
€ million
Margins in inventories
119
111
Fair value adjustments on assets and liabilities
28
13
Provision for pension benefits
100
78
Deferred tax assets related to losses eligible for carryforward
933
913
Provisions (other than provisions for pensions benefits) and other items
498
509
TOTAL DEFERRED TAX ASSETS
1,678
1,623
Accelerated tax depreciation
136
175
Fair value adjustments on assets and liabilities
2,313
2,469
Pension and other hedging assets
147
181
TOTAL DEFERRED TAX LIABILITIES
2,596
2,825
Tax loss carryforwards (recognised and unrecognised) represent potential tax savings of €1,154 million and €1,232 million at 30 June 2021 and 30 June 2020 respectively. The potential tax savings at 30 June 2021 and 30 June 2020 relate to tax loss carryforwards with the following expiry dates: FY20
Tax effect of loss carryforwards € million Losses recognised Losses not recognised
Year
2020
0
1
2021
0
1
2022
1
4
2023
1
3
2024 and after
790
192
No expiry date
140
97
TOTAL
933
299
FY21
Tax effect of loss carryforwards € million Losses recognised Losses not recognised
Year
2021
0
1
2022
0
2
2023
2
4
2024
2
2
2025 and after
727
189
No expiry date
182
43
TOTAL
913
241
Group income taxes payables are broken down as follows:
30.06.2020
30.06.2021
€ million
Other current tax liabilities
108
166
Uncertain tax positions
125
117
TOTAL CURRENT TAX LIABILITIES
232
282
200
PERNOD RICARD UNIVERSAL REGISTRATION DOCUMENT 2020-2021
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