Deferred taxes isn't the company not paying its share. A company's earnings they report to the public is calculated differently from how you calculate your income for the government to pay taxes. It basically smooths a company's tax expense, and estimates what it may pay (or get back) in the future based on those differences. So, you pay at 27% for the government, but that amount taken from your accounting earnings might only be 20% - you basically bump up your total tax expense to show 27% because you estimate, all things being equal, that you'll have to pay that extra bit down the line as your reported and taxable earnings even out. It basically smooths your reported tax expense to something more predictable to people watching the company, as it's easier to predict and analyze than what a company might pay in a given year.
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