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44.1. Accounting principles

Annual Report 2019 > 44.1. Accounting principles
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The level of deferred tax liabilities and assets is determined using the balance sheet method using the corporate income tax rates which are expected to be in effect when the asset or liability is realized, in accordance with the provisions of tax law in the countries of registered offices of PZU Group companies, issued by the end of the reporting period.

In the case of all consolidated companies participating in the PGK Tax Group, the deferred tax assets and liabilities are set off based on the assumption that the Tax Group will be extended for the next periods, therefore for the needs of this set-off, the period in which the temporary differences are expected to be reversed is not analyzed.