to income tax Deferred tax assets (before offsetting): - Provisions and allowances 1,296.2 1,330.1 781.5 828.5 - Post-employment benefits 2,759.9 2,766.2 2,748.4 2,614.6 - Tax losses and capital allowances 3,072.9 2,828.2 0 0 - Lease liabilities 7,277.8 7,851.3 16,339.5 17,412.7 - PPE 62.6 58.2 0 0 Offsetting (14,090.1) (14,456.5) (19,869.4) (20,855.8) Deferred tax assets (after offsetting) 379.3 377.5 0 0 Deferred tax liabilities (before offsetting): - PPE (13,072.6) (12,932.0) (9,842.8) (9,632.5) - Contract assets (1,215.1) (834.2) (1,023.6) (831.5) - ROU assets (8,820.7) (9,510.6) (15,494.2) (17,032.1) Offsetting 14,090.1 14,456.5 19,869.4 20,855.8 Deferred tax liabilities (after offsetting) (9,018.3) (8,820.3) (6,491.2) (6,640.3) NOTES TO THE FINANCIAL STATEMENTS 31 December 2023 TENAGA NASIONAL BERHAD Integrated Annual Report 2023 242 12 DEFERRED TAXATION (CONTINUED) The amount of deductible temporary differences, unused tax losses, reinvestmentallowance and investment tax allowance for which no deferred tax assets are recognised in the statement of financial position are as follows: Group Company 2023 RM’million 2022 RM’million 2023 RM’million 2022 RM’million Deductible temporary differences 340.4 278.9 0 0 Tax losses* 413.8 874.7 0 0 Reinvestment allowance and investment tax allowance 5,917.2 5,925.1 123.7 0 No deferred tax assets are recognised from the deductible temporary differences and unused tax losses due to uncertainty of their recoverability. The unabsorbed capital allowances and investment tax allowance do not expire under current tax legislation. * The unutilised tax losses arising from a year of assessment (‘YA’) are allowed to be carried forward for utilisation up to 10 consecutive YAs from that YA. The accumulated unabsorbed tax losses brought forward are expected to expire between YA2028 to YA2030. 13 LONG TERM RECEIVABLES Accounting Policy Long term receivables are financial instruments and the accounting policy is disclosed in Note 45. Group Company Note 2023 RM’million 2022 RM’million