4.5.2Deferred Tax Asset

SBM Offshore N.V. is head of a fiscal unity in which all Dutch entities are included, except for the entities that are held by SBM Holding Inc. S.A. and the joint venture entities. For more details refer to note 4.4.3 General.

A deferred tax asset is recognized for tax losses of the fiscal unity which can be carried forward and are expected to be recovered based on anticipated future taxable profits within the Dutch fiscal unity. The tax losses recognized for the years until 2018 can be carried forward for a period of nine years, while any tax losses recognized from 2019 onwards can be carried forward for a period of six years.

The deferred tax asset for tax losses brought forward from prior years amounts to US$3 million.