Philips 2008 Annual Report Download - page 109
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Tax uncertainties due to permanent establishments
In countries where Philips starts new operations,
the issue of permanent establishment may arise.
This is due to the fact that when operations in new
countries are led from other countries, there is
a risk that tax claims will arise in the new country as
well as in the initial country. Philips assesses these
uncertainties before the new activities are started
in a particular country.
Tax uncertainties of losses carried forward and tax
credits carried forward
The value of the losses carried forward is not only
subject to having sufficient profits available within the
loss-carried-forward period, but also subject to having
sufficient profits within the foreseeable future in the
case of losses carried forward with an indefinite carry-
forward period. Valuation allowances of deferred
tax asset positions are in place where considered
necessary. There is no absolute assurance that all (net)
tax losses and tax credits carried forward can be
realized as this is dependent on estimated future
taxable profits.
Philips Annual Report 2008 109
122
Performance statements
114
Supervisory Board report
110
Our leadership
94
Risk management
70
Our sector performance