106 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS OF AEGON N.V.  NOTE 2.22 - 2.34 NOTE 2.25 CONTINGENT ASSETS AND LIABILITIES NOTE 2.26 PREMIUM INCOME NOTE 2.24 TAX ASSETS AND LIABILITIES A. CURRENT TAX ASSETS AND LIABILITIES NOTE 2.27 INVESTMENT INCOME B. DEFERRED TAX ASSETS AND LIABILITIES NOTE 2.28 FEE AND COMMISSION INCOME Fees and commissions from investment management services  and mutual funds, and from sales activities are recognized as  revenue over the period in which the services are performed  or the sales have been closed. Deferred tax assets and liabilities are recognised in correlation  to the underlying transaction either in profit and loss, other  comprehensive income or directly in equity. Deferred tax assets and liabilities are reviewed at the balance  sheet date and are measured at tax rates that are expected  to apply when the asset is realized or the liability is settled.  The carrying amount is not discounted and reflects the Group’s  expectations concerning the manner of recovery or settlement. Investment income also includes dividends accrued and rental  income due, as well as fees received for security lending. For interest-bearing assets, interest is recognized as it accrues  and is calculated using the effective interest rate method. Fees  and commissions that are an integral part of the effective yield  of the financial assets or liabilities are recognized as an  adjustment to the effective interest rate of the instrument.  Investment income includes the interest income and dividend  on financial assets carried at fair value through profit or loss. Deferred tax liabilities relating to investments in subsidiaries,  associates and joint ventures are not recognized if the Group  is able to control the timing of the reversal of the temporary  difference and it is probable that the difference will not be  reversed in the foreseeable future. Deferred tax assets and liabilities are recognized for the  estimated future tax effects of temporary differences between  the carrying value of an item and its tax value, with the  exception of differences arising from the initial recognition of  goodwill and of assets and liabilities that do not impact taxable  or accounting profits. A tax asset is recognized for tax loss  carryforwards to the extent that it is probable at the reporting  date that future taxable profits will be available against which  the unused tax losses and unused tax credits can be utilized.  Premium loadings for installment payments and additional  payments by the policyholder towards costs borne by the  insurer are included in the gross premiums. Rebates that  form part of the premium rate, such as no-claim rebates,  are deducted from the gross premium, others are recognized  as an expense. Depending on the applicable local accounting  principles, bonuses that are used to increase the insured  benefits may be recognized as gross premiums. Gross premiums, including recurring and single premiums,  from life and non-life insurance and investment contracts with  discretionary participation features are recognized as revenue  when they become receivable. Not reflected as premium income  are deposits from certain products that are sold only in the  United States and Canada, such as deferred annuities. For these  products the surrender charges and charges assessed have  been included in gross premiums.  Tax assets and liabilities for current and prior periods are  measured at the amount that is expected to be received from  or paid to the taxation authorities, using the tax rates that have  been enacted or substantively enacted by the reporting date. Initial fees and front-end loadings paid by policyholders and  other clients for future investment management services  related to investment contracts without discretionary  participation features are deferred and recognized as revenue  when the related services are rendered. A provision is recognized for present legal or constructive  obligations arising from past events, when it is probable that it  will result in an outflow of economic benefits and the amount  can be reliably estimated. If the outflow of economic benefits  is not probable, a contingent liability is disclosed, unless the  possibility of an outflow of economic benefits is remote. NOTE 2.23 DEFERRED REVENUE LIABILITY Contingent assets are disclosed in the notes if the inflow  of economic benefits is probable, but not virtually certain.  When the inflow of economic benefits becomes virtually certain,  the asset is no longer contingent and its recognition is  appropriate.  reporting date and at the date of settlement, with any changes  in fair value recognized in the income statement.  Share option plans that can be settled in either shares or cash  at the discretion of the employee are accounted for as a  compound financial instrument, which includes a debt  component and an equity component.