Page 61 - Kitron Annual Report 2011

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Notes to the financial statements Kitron ASA
Taxes
(Amounts in NOK 1000)
2011
2010
Tax cost for the year breaks down into:
Tax payable
Change in deferred tax
3 964
(5 707)
Total tax cost
3 964
(5 707)
Calculation of tax base for the year:
Profit before tax
33 640
(24 882)
Permanent differencies *)
(31 620)
21 423
Change in temporary differencies
1 126
(796)
Group contribution
12 139
1 079
Change in tax loss carried forward
(15 285)
3 176
Tax base for the year
-
-
Overview of temporary differencies
Receivables
-
1 306
Fixed assets
(3 515)
(3 915)
Pensions
(6 104)
(6 370)
Other temporary differencies
305
Gain and loss account
722
902
Total
(8 898)
(7 772)
Loss carried forward
(168 119)
(183 404)
Total
(177 017)
(191 176)
Deferred tax asset (28%)
49 565
53 529
Explanation of why tax cost for the year does not equal 28% of pre-tax result
28% of loss before tax
9 419
(6 967)
Permanent differencies (28%)
(8 854)
5 998
Group contribution
3 399
301
Effect of deferred tax asset unrecorded in balance sheet
(5 040)
Calculated tax cost
3 964
(5 707)
Effective tax rate **)
11,8%
22,9%
* ) Includes non-tax-deductible costs such as entertainment and issue expenses
**) Tax cost in reletion to pre-tax result
Note 8 Taxes