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## 6.2 Deferred tax 

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## 6.2  ACCOUNTING POLICIES 

Carlsberg A/S is the administrative company and is subject to the Danish rules on mandatory joint taxation of the Carlsberg Group’s Danish compa- nies. Carlsberg accordingly pays all income taxes to the tax authorities under the join taxation scheme. 

Danish subsidiaries are included in the joint taxation from the date when they are included in the consoli- dated financial statements and up to the date when they are excluded from the consolidation. 

Of the total deferred tax assets recognised, DKK 16m (2012: DKK 13m) relates to tax loss carryforwards, the utilisation of which depends on future positive taxable income exceeding the realised deferred tax liabilities. 

Not recognised tax assets amount to DKK 78m (2012: DKK 80m). These relate primarily to tax losses which are not expected to be utilised in the foreseeable future. 

The jointly taxed Danish companies are taxed under the on-account tax scheme. 

On payment of joint taxation contributions, the cur- rent Danish corporation tax is allocated between the Danish jointly taxed companies in proportion to their taxable income. Companies with tax losses receive joint taxation contributions from other companies that have used the tax losses to reduce their own tax- able profit (full absorption). 

As the administrative company, Carlsberg A/S has unlimited and joint legal responsibility with the other companies under the joint taxation scheme for with- holding taxes on dividends, interests and royalties. 

## 6.2 SIGNIFICANT ACCOUNTING ESTIMATES AND JUDGEMENTS 

Carlsberg A/S recognises deferred tax assets, including the tax base of tax loss carryforwards, if management as- sesses that these tax assets can be offset against positive taxable income in the foreseeable future. This judgement is made annually and based on budgets and business plans for the coming years, including planned commercial initiatives. 

