25 Deferred taxes

(XLS:)

in CHF thousands

31.12.2012

31.12.2011

+/– %

Deferred tax assets

 

 

 

Loss carry forwards

1'928

4'738

–59.3

Property and equipment

4'081

4'081

0.0

Others

19'794

18'778

5.4

Total deferred tax assets

25'803

27'597

–6.5

 

 

 

 

Deferred tax liabilities

 

 

 

Allowance for credit losses

17

17

0.0

Intangible assets

7'441

8'395

–11.4

Property

343

538

–36.2

Financial investments through profit and loss

11'435

11'159

2.5

Other provisions

18'558

10'701

73.4

Total deferred tax liabilities

37'794

30'810

22.7

 

 

 

 

Net movement on deferred taxes

 

 

 

As at 1 January

3'213

10'462

–69.3

Change with no effect on the income statement

–1'093

–4'468

–75.5

Increase in deferred taxes recognised in the income statement

13'624

9'255

47.2

Decrease in deferred taxes recognised in the income statement

–3'753

–12'036

–68.8

As at 31 December

11'991

3'213

273.2

At 31 December 2012, there existed temporary differences of CHF thousands 14'834, which were not booked as deferred taxes and which in future could be offset with potential tax allowances (previous year: CHF thousands 10'869).

The tax losses carried forward, which were not considered as deferred tax assets per 31 December 2012, and which expire within the next seven years, amounted to CHF thousands 4'166 (previous year: CHF thousands 7'006).

The tax losses, which were not recognised as deferred tax assets per 31 December 2012 expire as follows:

(XLS:)

in CHF thousands

31.12.2012

31.12.2011

+/– %

Within 1 year

0

0

 

Within 2 to 5 years

443

3'823

–88.4

Within 6 to 7 years

3'723

3'183

17.0

No expiry

10'668

3'862

176.2

Total

14'834

10'868

36.5

In general, tax losses in Switzerland can be carried forward for seven years, in the Principality of Liechtenstein and Austria they can be carried forward for an unlimited period.

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