3.24 Deferred income tax

Deferred income tax assets and liabilities were as follows:

Deferred income tax assets and liabilities

in CHF thousand
	Deferred tax assets	Deferred tax liabilities	Balance 2020	Deferred tax assets	Deferred tax liabilities	Balance 2019
At 1 January	782	–1,367	–585	16	–1,326	–1,310
Charges to income statement	1,211	199	1,410	785	–41	744
Exchange differences	12	–	12	–19	–	–19
At 31 December	2,005	–1,168	837	782	–1,367	–585

Deferred taxes are calculated at the effective applicable rate for each company.

Deferred taxes include the following capitalised losses carried forward:

Deferred income tax assets from losses carried forward:

in CHF thousand at 31 December	2020	2019
Deferred income tax assets on loss carry-forward gross
./. Allowance	–13,968	–17,553
Deferred income tax assets on loss carry-forward net	2,005	782

Deferred income tax assets arising from tax loss carry forward are recognised in as far as the related tax benefits are likely to be realised through future taxable profits. Deferred tax assets on tax loss carry-forwards correspond to accumulated taxable losses in the amount of CHF 66,698,000 (2019: CHF 71,746,000). The tax loss carry-forwards mainly arise from Zeiser GmbH and Orell Füssli Ltd. The latter generated tax loss carry-forwards in the prior year due to changes in tax legislation.

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3.24 Deferred income tax