Deferred taxes

If measures taken in accordance with the provisions of the present Title result in differences between the values recognised under commercial law for the assets, debt obligations or accrued and deferred items and the values recognised for them for tax purposes, and if said differences are likely to narrow over the course of subsequent financial years, then the total resulting tax burden is to be recognised on the consolidated balance sheet as a deferred tax liability and the total resulting reduction of taxes is to be recognised on the consolidated balance sheet as a deferred tax asset. The resulting tax burden and the resulting tax reduction also may be recognised without a set-off being performed. Differences resulting from the fact that a difference remaining pursuant to section 301 (3) is recognised for the first time will not be taken into account. This will also apply to differences that result between the value recognised for tax purposes for a participating interest in a subsidiary enterprise, associated enterprise or a joint venture within the meaning of section 310 (1) and the value recognised under commercial law for the net assets in the consolidated financial statements. Section 274 (2) and (3) applies accordingly. The items may be combined with the items pursuant to section 274.