Notes to Consolidated Financial Statements continued Thousands of Georgian Lari 14. Taxation continued Deferred tax assets and liabilities as at 31 December 2018, 31 December 2017 and 31 December 2016 and their movements for the respective years are as follows: Origination and reversal of temporary differences In other In the income Business comprehensive 2015 statement combination income 2016 Tax effect of deductible temporary differences: Amounts due to credit institutions 482 (482) – – – Investment properties 980 431 – (921) 490 Insurance premiums receivables 2,160 (952) – – 1,208 Allowances for impairment and provisions for other losses 4,866 1,090 – 535 6,491 Tax losses carried forward 17,160 (13,095) – (4,065) – Property and equipment 937 (44) – (73) 820 Other assets and liabilities 4,447 (3,053) 1,497 168 3,059 Deferred tax assets 31,032 (16,105) 1,497 (4,356) 12,068 Tax effect of taxable temporary differences: Amounts due to credit institutions 68 1,162 – – 1,230 Debt securities issued – – – – – Cash and cash equivalents – – – – – Investment securities – – – – – Loans to customers 28,956 (11,210) – 720 18,466 Other insurance liabilities and pension fund obligations 222 (222) – – – Property and equipment 63,716 (57,990) 1,915 (1,062) 6,579 Investment properties 6,511 (4,966) – (1,545) – Intangible assets 5,403 (5,053) – 102 452 Other assets and liabilities 7,470 (1,516) 140 (297) 5,797 Deferred tax liabilities 112,346 (79,795) 2,055 (2,082) 32,524 Net deferred tax liabilities (81,314) 63,690 (558) (2,274) (20,456) 238 Annual Report 2018Bank of Georgia Group PLC