72 19. Deferred tax assets/liabilities and income tax 19.1 Deferred tax assets/liabilities As at 31 December 2021 and 2020, deferred tax assets/liabilities are as follows: (Unit: Million Baht) Consolidated financial statements Separate financial statements 2021 2020 2021 2020 Deferred tax assets 1,025 917 - - Deferred tax liabilities (244) (226) (192) (178) Net 781 691 (192) (178) The components of deferred tax assets and deferred tax liabilities are as follows: (Unit: Million Baht) Consolidated financial statements As at 31 December Changes of deferred tax assets / liabilities in profit or loss for the years 2021 2020 2021 2020 Deferred tax assets Allowance for expected credit loss 640 582 58 48 Allowance for impairment of properties foreclosed 8 7 1 (8) Employee benefits 48 57 (2) (4) Accrued expenses 12 11 1 (2) Insurance contract liabilities 403 375 28 32 Financial leasing liabilities / other liabilities 1 1 - 1 Others 15 7 10 (3) Deferred tax assets 1,127 1,040 96 64 Deferred tax liabilities Deferred commissions and direct expenses incurred at the initiation of hire purchase (91) (93) 2 - Unrealised gain from measurement of investments (176) (195) (9) 16 Unrealised gain from measurement of derivatives (50) (33) (17) 18 Surplus on revaluation of assets (20) (20) - - Others (9) (8) (1) - Deferred tax liabilities (346) (349) (25) 34 Net 781 691 71 98 288
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