Company: KYIV
Filing Date: 2025-12-09
Form Type: F-1/A
Source: 0001213900-25-119722
Chunk: 329

Company: Kyivstar Group Ltd.
Filing Date: 2025-12-09
Form: F-1/A
Chunk 329
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| As of December 31, 2023              |     | Indefinite |   |     | Total |   |
|:-------------------------------------|:----|-----------:|:--|:----|------:|:--|
| Tax losses expiry                    |     |            |   |     |       |   |
| Recognized losses                    |     |         (1 | ) |     |    (1 | ) |
| Recognized DTA                       |     |          — |   |     |     — |   |
| Non-recognized losses                |     |       (116 | ) |     |  (116 | ) |
| Non-recognized DTA                   |     |         30 |   |     |    30 |   |
| Other credits carried forward expiry |     |            |   |     |       |   |
| Recognized credits                   |     |          — |   |     |     — |   |
| Recognized DTA                       |     |          — |   |     |     — |   |
| Non-recognized credits               |     |       (130 | ) |     |  (130 | ) |
| Non-recognized DTA                   |     |         34 |   |     |    34 |   |

For the years ended December 31, 2024 and 2023, VEON Holdings is included in the Dutch Fiscal Unity for income tax purposes and has a significant amount of accumulated unrecognized tax losses and other tax carry-forwards. These tax attributes can be utilized to offset taxable income subject to certain conditions. The total amount of tax losses and other tax carry-forwards of VEON Holdings can change after finalization of the 2023 and 2022 Dutch tax compliance cycles and filing of the relevant tax returns for the Dutch Fiscal Unity. Additionally, after finalization of the demerger, VEON Holdings may be required to transfer a certain amount of losses to other entities within Dutch Fiscal Unity. The Dutch tax regulations around tax losses are complex and require detailed calculation and preparation of Dutch Fiscal Unity tax returns. As a result, we cannot reliably estimate the exact amount tax losses and other tax carry-forwards that will be forfeited by VEON Holdings in the future.

ACCOUNTING POLICIES

Income taxes

Income tax expense represents the aggregate amount determined on the profit for the period based on current tax and deferred tax. In cases where the tax relates to items that are charged to other comprehensive income or directly to Net investment, the