Note 15 Taxes
Recognized in the income statement
Group, MSEK | 2018 | 2017 | |
Koncernen, Mkr | 2018 | 2017 | |
Current tax expenses/income | Aktuell skattekostnad/skatteintäkt | ||
Tax expenses for the year | Årets skattekostnad | -451 | -548 |
Adjustment of tax attributable to previous years | Justering av skatt hänförlig till tidigare år | -2 | 7 |
-453 | -541 | ||
Deferred tax expenses/income | Uppskjuten skattekostnad/skatteintäkt | ||
Temporary differences | Temporära skillnader | 7 | 126 |
Capitalized tax value of loss carry-forwards during the year | Under året aktiverat skattevärde i underskottsavdrag | 4 | 3 |
Utilisation of capitalized tax value of loss carry-forwards | Utnyttjande av aktiverat skattevärde i underskottsavdrag | -75 | -30 |
Changed tax rates | Förändrade skattesatser | -38 | -1 |
Revaluation of recognized deferred tax values | Omvärdering av redovisade värden av uppskjutna skatter | 137 | 52 |
35 | 150 | ||
Total recognized tax expenses in the Group | Totalt redovisad skattekostnad i koncernen | -418 | -391 |
Parent company, MSEK | 2018 | 2017 | |
Moderbolaget, Mkr | 2018 | 2017 | |
Current tax expenses/income | Aktuell skattekostnad/skatteintäkt | ||
Tax expenses for the year | Årets skattekostnad | -404 | -520 |
Adjustment of tax attributable to previous years | Justering av skatt hänförlig till tidigare år | 1 | – |
-403 | -520 | ||
Deferred tax expenses/income | Uppskjuten skattekostnad/skatteintäkt | ||
Temporary differences | Temporära skillnader | 8 | 11 |
Changed tax rates | Förändrade skattesatser | -7 | – |
1 | 11 | ||
Total recognized tax expenses in the parent company | Totalt redovisad skattekostnad i moderbolaget | -402 | -509 |
Reconciliation of effective tax
Group, MSEK | 2018 | 2018 (%) | 2017 | 2017 (%) | |
Koncernen, Mkr | 2018 | 2018 (%) | 2017 | 2017 (%) | |
Pre-tax profit | Resultat före skatt | 2,518 | 2,458 | ||
Tax in accordance with tax rate for the parent company | Skatt enligt gällande skattesats för moderbolaget | -554 | 22.0 | -541 | 22.0 |
Effect of other tax rates for foreign subsidiaries | Effekt av andra skattesatser för utländska dotterföretag | 4 | -0.2 | 1 | -0.0 |
Non-deductible expenses | Ej avdragsgilla kostnader | -52 | 2.1 | -106 | 4.3 |
Tax exempt income | Ej skattepliktiga intäkter | 51 | -2.0 | 172 | -7.0 |
Deductible non profit-influencing items | Avdragsgilla ej resultatpåverkande poster | 6 | -0.2 | 8 | -0.3 |
Revaluation of reported deferred tax values | Omvärdering av redovisade värden av uppskjutna skatter | 137 | -5.5 | 52 | -2.1 |
Utilized non-capitalized loss carry-forwards | Utnyttjade ej aktiverade underskottsavdrag | 8 | -0.3 | 2 | -0.1 |
Tax attributable to previous years | Skatt hänförlig till tidigare år | -2 | 0.1 | 7 | -0.3 |
Changed tax rates | Förändrade skattesatser | -38 | 1.5 | -1 | 0.0 |
Increase in loss carry-forwards without corresponding capitalization of deferred tax | Ökning av underskottsavdrag utan motsvarande aktivering av uppskjuten skatt | -3 | 0.1 | -24 | 1.0 |
Effect net profit of joint ventures | Effekt nettoresultat joint ventures | 25 | -1.0 | 39 | -1.6 |
Recognized effective tax | Redovisad effektiv skatt | -418 | 16.6 | -391 | 15.9 |
Parent company, MSEK | 2018 | 2018 (%) | 2017 | 2017 (%) | |
Moderbolaget, Mkr | 2018 | 2018 (%) | 2017 | 2017 (%) | |
Pre-tax profit | Resultat före skatt | 3,211 | 2,526 | ||
Tax according to tax rate for the parent company | Skatt enligt gällande skattesats för moderbolaget | -706 | 22.0 | -556 | 22.0 |
Non-deductible expenses | Ej avdragsgilla kostnader | -29 | 0.9 | -1 | 0.0 |
Tax exempt income | Ej skattepliktiga intäkter | 333 | -10.4 | 40 | -1.6 |
Deductible non profit-influencing items | Avdragsgilla ej resultatpåverkande poster | 6 | -0.2 | 8 | -0.3 |
Tax attributable to previous years | Skatt hänförlig till tidigare år | 1 | -0.0 | – | – |
Changed tax rates | Förändrade skattesatser | -7 | 0.2 | – | – |
Recognized effective tax | Redovisad effektiv skatt | -402 | 12.5 | -509 | 20.1 |
Tax attributable to other comprehensive income
Pre-tax | Tax | After tax | Pre-tax | Tax | After tax | ||
Group, MSEK | 2018 | 2017 | |||||
Före skatt | Skatt | Efter skatt | Före skatt | Skatt | Efter skatt | ||
Koncernen, Mkr | 2018 | 2017 | |||||
Translation difference for the year foreign operations | Årets omräkningsdifferens utländska verksamheter | 86 | 1 | 87 | -55 | -4 | -59 |
Financial assets available-for-sale | Finansiella tillgångar som kan säljas | – | – | -55 | -55 | ||
Cash flow hedges | Kassaflödessäkringar | 20 | -4 | 16 | 112 | -12 | 100 |
Other comprehensive income | Övrigt totalresultat | 106 | -3 | 103 | 2 | -16 | -14 |
Reported on the balance sheet
Deferred tax recoverables and tax liabilities
Deferred tax recoverables | Deferred tax liabilities | Net | Changes recognized in profit/loss for the year | ||||||
Group, MSEK | 2018 | 2017 | 2018 | 2017 | 2018 | 2017 | 2018 | 2017 | |
Uppskjuten skattefordran | Uppskjuten skatteskuld | Netto | Förändringar redovisade i årets resultat | ||||||
Koncernen, Mkr | 2018 | 2017 | 2018 | 2017 | 2018 | 2017 | 2018 | 2017 | |
Intangible assets | Immateriella anläggningstillgångar | -60 | -68 | -60 | -68 | 8 | 6 | ||
Tangible assets | Materiella anläggningstillgångar | -389 | -396 | -389 | -396 | -9 | -52 | ||
Investment property | Förvaltningsfastigheter | -2 | -11 | -2 | -11 | 0 | -13 | ||
Financial fixed assets | Finansiella anläggningstillgångar | 1 | 1 | 1 | 1 | 0 | 41 | ||
Project and development properties | Projekt- och exploateringsfastigheter | 10 | -152 | -152 | 10 | -175 | 16 | ||
Inventories | Varulager | 0 | 1 | 0 | 1 | 0 | 0 | ||
Accounts receivable | Kundfordringar | 3 | 18 | 3 | 18 | -15 | 15 | ||
Worked-up not invoiced income | Upparbetad ej fakturerad intäkt | 72 | -75 | 72 | -75 | 154 | -7 | ||
Other receivables | Övriga fordringar | 0 | -1 | -0 | -1 | 1 | 0 | ||
Interest-bearing liabilities | Räntebärande skulder | 107 | 102 | 107 | 102 | 5 | 5 | ||
Provisions for pensions | Pensionsavsättningar | 125 | 107 | 125 | 107 | 17 | 25 | ||
Provisions | Avsättningar | 64 | 79 | 64 | 79 | -22 | 17 | ||
Invoiced income not worked-up | Fakturerad ej upparbetad intäkt | 223 | 267 | 223 | 267 | -43 | 31 | ||
Other liabilities | Övriga skulder | 263 | 224 | 263 | 224 | 44 | 63 | ||
Loss carry-forwards | Underskottsavdrag | 200 | 151 | 200 | 151 | 51 | 22 | ||
Tax allocation reserves | Periodiseringsfonder | -427 | -289 | -427 | -289 | -138 | -173 | ||
Safety reserve | Säkerhetsreserv | -151 | -308 | -151 | -308 | 157 | 154 | ||
Tax recoverables/tax liabilities | Skattefordringar/-skulder | 1,058 | 960 | -1,181 | -1,148 | -123 | -188 | ||
Offset | Kvittning | -1,058 | -947 | 1,058 | 947 | – | – | ||
Net | Netto | – | 13 | -123 | -201 | -123 | -188 | 35 | 150 |
Deferred tax recoverables | Changes recognized in profit/loss for the year | ||||
Parent company, MSEK | 2018 | 2017 | 2018 | 2017 | |
Uppskjuten skattefordran | Förändringar redovisade i årets resultat | ||||
Moderbolaget, Mkr | 2018 | 2017 | 2018 | 2017 | |
Provisions for pensions | Pensionsavsättningar | 109 | 107 | 2 | 10 |
Other liabilities | Övriga skulder | 2 | 3 | -1 | 1 |
Net | Netto | 111 | 110 | 1 | 11 |
Unrecognized deferred tax recoverables regarding loss carry-forwards
Ongoing correspondence with 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. The judgement per 2018-12-31 is that there are no uncertainties regarding the deductability of loss carry-forwards in Sweden and because of that tax recoverables of loss carry-forwards are recognized as assets without any adjustments. The value of deferred tax in Sweden that has not been recognized as an asset per 2017-12-31 because of uncertainties regarding the deductability was SEK 137 million.
In the Norwegian operations the ability to use loss carry-forwards of SEK 508 million (504) remains uncertain. They have not been capitalized. The fiscal value of the non-capitalized loss carry-forward is SEK 112 million (116).
Changed tax rates
As of 2019 the tax rate in Sweden has changed to 21.4 percent from 22 percent which was the tax rate during 2018. From 2021 the tax rate in Sweden will change to 20.6 percent.
As of 2019 the tax rate in Norway has changed to 22 percent from 23 percent which was the tax rate during 2018. 2017 the tax rate was 24 percent in Norway.
The fiscal temporary differences in Sweden and Norway are valued at the tax rate valid at the time the temporary differences are expected to cease to exist.