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European Insurance and Occupational Pensions Authority

1409

Q&A

Question ID: 1409

Regulation Reference: (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII)

Topic: Other

Article: 15

Status: Final

Date of submission: 02 Mar 2020

Question

Do we have to offset deferred tax assets and deferred  tax liabilities in the SII Balance Sheet?

In Art 15 EU-Regulation 35/2015 we find rules for the recognition and valuation of deferred taxes. This is to be done according to IAS 12. However, there does not seem to be an explizit rule for the presentation of deferred taxes in the S II balance sheet.

EIOPA answer

Offsetting of deferred tax assets and liabilities is only allowed if they refer to the same tax authority and can actually be netted. Generally, Art. 9 (5) and (6) of Regulation(EU) 2015/35 requires the 'gross' presentation of assets and liabilities.