Note 14 Taxes
Recognized in the income statement
| Group, MSEK | 2016 | 2015 |
| Current tax expenses/income | ||
| Tax expenses/income for the year | -380 | 4 |
| Adjustment of tax attributable to previous years | -9 | -5 |
| -389 | -1 | |
| Deferred tax expenses/income | ||
| Temporary differences | 77 | -39 |
| Capitalised tax value of loss carry-forwards during the year | 0 | 4 |
| Utilisation of capitalised tax value of loss carry-forwards | -117 | -136 |
| Changed tax rates | -2 | -9 |
| Tax income through the acquisition of companies with tax loss carry-forwards which were acquired at a price under the nominal value | – | 25 |
| Revaluation of reported deferred tax values | 108 | 48 |
| 66 | -107 | |
| Total reported tax expenses in the Group | -323 | -108 |
| Parent company, MSEK | 2016 | 2015 |
| Current tax expenses/income | ||
| Tax expenses for the year | -345 | -1 |
| Adjustment of tax attributable to previous years | – | 4 |
| -345 | 3 | |
| Deferred tax income | ||
| Temporary differences | 11 | 6 |
| 11 | 6 | |
| Total reported tax expenses/income in the parent company | -334 | 9 |
Reconciliation of effective tax
| Group, MSEK | 2016 | 2016 (%) | 2015 | 2015 (%) |
| Pre-tax profit | 2,050 | 906 | ||
| Tax in accordance with tax rate for the parent company | -451 | 22.0 | -199 | 22.0 |
| Effect of other tax rates for foreign subsidiaries | -1 | 0.0 | -2 | 0.2 |
| Non-deductible expenses | -89 | 4.4 | -74 | 8.2 |
| Tax exempt income | 84 | -4.1 | 46 | -5.1 |
| Deductible non profit-influencing items | 11 | -0.5 | 34 | -3.7 |
| Revaluation of reported deferred tax values | 108 | -5.2 | 48 | -5.3 |
| Utilized non-capitalised loss carry-forwards | 14 | -0.7 | 15 | -1.7 |
| Tax attributable to previous years | -9 | 0.4 | -5 | 0.6 |
| Changed tax rates | -2 | 0.1 | -9 | 1.0 |
| Increase in loss carry-forwards without corresponding activation of deferred tax | -6 | 0.3 | -2 | 0.2 |
| Tax income through the acquisition of companies with tax loss carry-forwards which were acquired at a price under the nominal value | – | – | 25 | -2.8 |
| Effect net profit of joint ventures | 18 | -0.9 | 15 | -1.7 |
| Reported effective tax | -323 | 15.8 | -108 | 11.9 |
| Parent company, MSEK | 2016 | 2016 (%) | 2015 | 2015 (%) |
| Pre-tax profit | 1,555 | 54 | ||
| Tax in accordance with tax rate for the parent company | -342 | 22.0 | -12 | 22.0 |
| Non-deductible expenses | -1 | 0.1 | -44 | 81.5 |
| Tax exempt income | 1 | -0.1 | 44 | -81.5 |
| Deductible non profit-influencing items | 8 | -0.5 | 16 | -29.5 |
| Utilized non-capitalised loss carry-forwards | – | – | 1 | -1.8 |
| Tax attributable to previous years | – | – | 4 | -7.4 |
| Reported effective tax | -334 | 21.5 | 9 | -16.7 |
Tax attributable to other comprehensive income
| Pre-tax | Tax | After tax | Pre-tax | Tax | After tax | |
| Group, MSEK | 2016 | 2015 | ||||
| Translation difference for the year foreign operations | 166 | 12 | 178 | -155 | -12 | -167 |
| Financial assets available-for-sale | 153 | 153 | 90 | 90 | ||
| Cash flow hedges | 31 | -11 | 20 | 28 | -6 | 22 |
| Revaluation of defined benefit pension plans | 0 | 0 | 0 | 0 | 0 | 0 |
| Other comprehensive income | 350 | 1 | 351 | -37 | -18 | -55 |
Reported on the balance sheet
Deferred tax recoverables and tax liabilities
| Deferred tax recoverables | Deferred tax liabilities | Net | Changes reported in profit for the year | ||||
| Group, MSEK | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 |
| Tangible assets | -338 | -300 | -338 | -300 | -29 | ||
| Intangible assets | -62 | -60 | -62 | -60 | 4 | ||
| Financial assets | -41 | -1 | -41 | -1 | -40 | ||
| Project and development properties | 6 | -5 | -5 | 6 | 3 | ||
| Work-in-progress | 4 | 7 | 4 | 7 | -4 | ||
| Inventories | 1 | 1 | 1 | 1 | 0 | ||
| Accounts receivable | 3 | 18 | 3 | 18 | -17 | ||
| Recognized but not invoiced income | -66 | -45 | -66 | -45 | -11 | ||
| Other receivables | -2 | -2 | – | -2 | |||
| Interest-bearing liabilities | 95 | 81 | 95 | 81 | 9 | ||
| Provisions for pensions | 82 | 48 | 82 | 48 | 34 | ||
| Provisions | 63 | 60 | 63 | 60 | -5 | ||
| Invoiced income not yet recognized | 244 | 90 | 244 | 90 | 154 | ||
| Other liabilities | 163 | 63 | 163 | 63 | 108 | ||
| Loss carry-forwards | 134 | 142 | 134 | 142 | -23 | ||
| Tax allocation reserve | -116 | -1 | -116 | -1 | -115 | ||
| Safety reserve | -462 | -462 | -462 | -462 | – | ||
| Tax recoverables/tax liabilities | 789 | 516 | -1,092 | -869 | -303 | -353 | |
| Offset | -720 | -414 | 720 | 414 | – | – | |
| Net | 69 | 102 | -372 | -455 | -303 | -353 | 66 |
| Deferred tax recoverables | Deferred tax liabilities | Net | Changes reported in profit for the year | ||||
| Parent company, MSEK | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | 2016 |
| Provisions for pensions | 97 | 88 | 97 | 88 | 9 | ||
| Other liabilities | 2 | 2 | 2 | ||||
| Net | 99 | 88 | – | – | 99 | 88 | 11 |
Unreported deferred tax recoverables regarding loss carry-forwards
Ongoing correspondence between the Swedish Tax Authorities as well as assessments made together with external experts on the deductability of individual deductions have been taken into consideration when evaluating deferred tax recoverables. Deferred tax attributable to deductions where the right to deduct is uncertain has not been reported as an asset. The value of the deferred tax in Sweden which has not been reported as an asset per 2016-12-31 is approximately SEK 187 million (284).
In consideration of earlier years reported losses in the Norwegian operations, remains an uncertainty in the use of loss carry-forwards which amount to SEK 417 million (397). Those have not been activated. The fiscal value of the unactivated loss carry-forward is SEK 100 million (99).
Changed tax rates
As of 2017 the tax rate in Norway has changed to 24 percent from 25 percent which was the tax rate during 2016. 2015 the tax rate was 27 percent.