| Income tax | 1 January – 31 December 2022 | 1 January – 31 December 2021 |
| Profit before tax (consolidated) | 7 605 | 7 454 |
| CIT rate (or range of CIT rates) for the country of the parent company’s seat (%) | 19% | 19% |
| Income tax which would be calculated as the product of gross accounting profit of the entities and the CIT rate in the country of the parent company’s seat | 1 445 | 1 416 |
| Differences between the income tax calculated above and the income tax shown in the profit and loss account: | 901 | 604 |
| levy on financial institutions | 276 | 238 |
| provisions for credit receivables in the part not covered by deferred tax | 44 | 36 |
| measurement of financial assets | (14) | 9 |
| recognition/reversal of impairment losses for receivables, not classified as tax- deductible expenses | 79 | 45 |
| recognition/reversal of other provisions and impairment losses for assets, not classified as tax-deductible expenses | 314 | 25 |
| fee payable to BFG | 69 | 76 |
| Borrower Support Fund | 44 | – |
| tax on foreign exchange differences levied in Sweden in connection with the case described in section 59.4 | – | 72 |
| differences due to different tax rates | (14) | (11) |
| taxation of insurance activities in Ukraine | 24 | 15 |
| dividends | 30 | 38 |
| tax losses | 21 | 38 |
| other tax increases, waivers, exemptions, deductions and reductions | 28 | 23 |
| Income tax shown in the profit and loss account | 2 346 | 2 020 |
| Total amount of current and deferred tax | 1 January – 31 December 2022 |
1 January – 31 December 2021 |
| 1. Recognized in the profit and loss account, including: | 2 346 | 2 020 |
| current tax | 1 672 | 1 492 |
| deferred tax | 674 | 528 |
| 2. Recognized in other comprehensive income, including: | (671) | (1 209) |
| deferred tax | (671) | (1 209) |
| Income tax on other comprehensive income items | 1 January – 31 December 2022 |
1 January – 31 December 2021 |
| Gross other comprehensive income | (3 595) | (6 357) |
| Income tax | 671 | 1 209 |
| Valuation of debt instruments | 400 | 522 |
| Measurement of loan receivables from clients | 1 | 9 |
| Cash flow hedging | 295 | 702 |
| Valuation of equity instruments | (29) | (17) |
| Actuarial gains and losses related to provisions for employee benefits | 4 | (7) |
| Net other comprehensive income | (2 924) | (5 148) |
The PZU Group is comprised of units operating in different countries and subject to different tax regulations. Regulations governing value added tax, corporate income tax, personal income tax or contributions to social security undergo frequent changes. The regulations in effect in the countries where the PZU Group operates also contain confusing provisions, which result in differences of opinion concerning their legal interpretation between various state authorities and enterprises. Tax and other settlements (e.g. regarding customs or foreign currencies) may be inspected by authorities (in Poland – for a period of five years), which may levy high fines and any additional liabilities assessed during the inspection bear interest. These phenomena generate tax risk, as a result of which the amounts reported in the consolidated financial statements may change at a later date after the final amounts are determined by tax authorities.