Translation of "Steuerlichen verlustvorträge" in English

The measure will not restrict the possibility to take advantage of the tax losses carried forward in future.

The tax losses carried forward at the year-end are broken down as follows:

Here, Godewind's tax loss carry-forwards have a positive effect.

In this context, Godewind's tax loss carry-forwards will have a positive effect in future.

The expiration of net operating losses is as follows:

Unusable tax credits and tax loss carryforwards will expire as follows:

The tax losses of group companies in Germany were fully utilized by the end of the financial year 2008.

It also notes that, if the provisions had not been set aside, the tax losses carried over would have been gradually absorbed between 1987 and 1996 and the amount of tax payable by EDF in 1997 would have been significantly higher.

The amendment specified that the reclassified accounting provisions should be converted to own funds by an accounting entry that bypassed EDF's income statement, in order to avoid showing a very high profit that the state might be tempted to tax in part.

The following table shows the expiry of tax loss carry-forwards which have not been used for the recognition of deferred income tax assets.

As previously announced, when Firesteel acquired the Laiva Mine, the Company was granted, €131,716,248 in tax loss provisions which may be used to offset future taxes should taxable income be earned in Finland prior to expiration of the tax loss carry forwards.

The tax loss provisions expire between 2020 and 2028 (see the Company's audited financial statements for the year ended January 31, 2018 for detailed disclosure of the expiration schedule).

As previously announced, when Nordic (Firesteel) acquired the Laiva Mine, the Company was granted, €131,716,248 in tax loss provisions which may be used to offset future taxes should taxable income be earned in Finland prior to expiration of the tax loss carry forwards.

If such earnings are ever repatriated, no material tax liabilities would be incurred due to participation exemption rules, unrecognised tax loss carryforwards and applicable double taxation treaties.

As previously announced, when Nordic acquired the Laiva Gold Mine, the Company was granted, €131,716,248 in tax loss provisions which may be used to offset future taxes should taxable income be earned in Finland prior to expiration of the tax loss carry forwards.

If such amounts are ever repatriated, no material tax liabilities would be incurred due to participation exemption rules, unrecognised tax loss carryforwards and applicable double taxation treaties.

Since the Mikron Group does not anticipate a short-term recovery in the automotive industry and in the operating results of the companies concerned, the capitalized tax loss carryforwards may also have to be partially written down in the 2019 financial statements.

The recognition of the tax loss carry forwards have a material impact on the economic assessment of the Laiva Gold Mine project and are contingent upon the Company achieving taxable net income per Finnish tax laws.

Tax loss carry-forwards at Orell Füssli Book Retailing Ltd amounting to CHF 2,775,000 were transferred to the new company in the course of establishing the joint venture.

If such amounts from entities controlled by the Group are ever distributed, no material tax liabilities would be incurred due to participation exemption rules, unrecognised tax loss carryforwards and applicable double taxation treaties.

No deferred tax assets are recognized for these companies because the unused tax losses amounting to € 18.9 million were fully written down in previous years through valuation allowances.

In the financial year 2011, MTU Aero Engines North America Inc., Newington, U.S., and Vericor Power Systems LLC., Atlanta, U.S., made no use of loss carry-forwards for tax purposes.

Additionally, expected tax reductions from loss carryovers are capitalised in the IFRS format, if an appropriate level of taxable income is expected to be achieved in the foreseeable future against which unused tax loss carryovers may be offset.

As a result of the “minimum taxation” that was introduced in Germany in 2004, the tax loss carryforwards are offset against the ongoing tax result in full up to an amount of €1million but only up to 60% thereafter.

Due to the positive development of AdLINK’s earnings and its profit transfer agreements with domestic subsidiaries, tax loss carryforwards had to be capitalized in 2006.

The subsidiary has already generated profits in the second half of 2018 due to the increased business volume. It can be assumed that Biofrontera Pharma GmbH will continue to generate positive results in the future and thus, use its tax loss carryforwards.

The recognition of the tax loss carry - forwards has a material impact on the economic assessment of the Laiva Gold Mine project and are contingent upon the Company achieving taxable net income per Finnish tax laws.

The unutilised tax loss carry-forwards amounting to CHF 8,558,000 (2010: CHF 390,000), arising mainly at Atlantic Zeiser GmbH, can be carried forward and offset against future taxable income.