Note 15 Taxes

Recognized in the income statement

Group, MSEK 2020 2019
Koncernen, Mkr 2020 2019
Current tax expenses/income Aktuell skattekostnad/skatteintäkt
Tax expenses for the year Årets skattekostnad -421 -392
Adjustment of tax attributable to previous years Justering av skatt hänförlig till tidigare år -5 -12
-426 -404
Deferred tax expenses/income Uppskjuten skattekostnad/skatteintäkt
Temporary differences Temporära skillnader -88 -214
Capitalized tax value of loss carry-forwards during the year Under året aktiverat skattevärde i underskottsavdrag 1 1
Utilisation of capitalized tax value of loss carry-forwards Utnyttjande av aktiverat skattevärde i underskottsavdrag -51 -37
Changed tax rates Förändrade skattesatser 1 –
Revaluation of recognized deferred tax values Omvärdering av redovisade värden av uppskjutna skatter -1 83
-138 -167
Total recognized tax expenses in the Group Totalt redovisad skattekostnad i koncernen -564 -571

 

Parent company, MSEK 2020 2019
Moderbolaget, Mkr 2020 2019
Current tax expenses/income Aktuell skattekostnad/skatteintäkt
Tax expenses for the year Årets skattekostnad -211 -303
-211 -303
Deferred tax expenses/income Uppskjuten skattekostnad/skatteintäkt
Temporary differences Temporära skillnader 6 8
6 8
Total recognized tax expenses in the parent company Totalt redovisad skattekostnad i moderbolaget -205 -295

Reconciliation of effective tax

Group, MSEK 2020 2020 (%) 2019 2019 (%)
Koncernen, Mkr 2020 2020 (%) 2019 2019 (%)
Pre-tax profit Resultat före skatt 3,745 3,227
Tax in accordance with tax rate for the parent company Skatt enligt gällande skattesats för moderbolaget -801 21.4 -690 21.4
Effect of other tax rates for foreign subsidiaries Effekt av andra skattesatser för utländska dotterföretag 5 -0.1 2 -0.1
Non-deductible expenses Ej avdragsgilla kostnader -46 1.2 -79 2.5
Tax exempt income Ej skattepliktiga intäkter 239 -6.4 45 -1.4
Deductible non profit-influencing items Avdragsgilla ej resultatpåverkande poster 16 -0.4 23 -0.7
Revaluation of reported deferred tax values Omvärdering av redovisade värden av uppskjutna skatter -1 0.0 83 -2.6
Utilized non-capitalized loss carry-forwards Utnyttjade ej aktiverade underskottsavdrag 1 0.0 0 0.0
Tax attributable to previous years Skatt hänförlig till tidigare år -5 0.1 -12 0.4
Changed tax rates Förändrade skattesatser 1 0.0 – –
Increase in loss carry-forwards without corresponding capitalization of deferred tax Ökning av underskottsavdrag utan motsvarande aktivering av uppskjuten skatt -1 0.0 -15 0.5
Effect net profit of joint ventures Effekt nettoresultat joint ventures 28 -0.7 72 -2.2
Recognized effective tax Redovisad effektiv skatt -564 15.1 -571 17.8

 

Parent company, MSEK 2020 2020 (%) 2019 2019 (%)
Moderbolaget, Mkr 2020 2020 (%) 2019 2019 (%)
Pre-tax profit Resultat före skatt 1,509 1,558
Tax according to tax rate for the parent company Skatt enligt gällande skattesats för moderbolaget -323 21.4 -334 21.4
Non-deductible expenses Ej avdragsgilla kostnader -4 0.3 -18 1.2
Tax exempt income Ej skattepliktiga intäkter 107 -7.1 43 -2.8
Deductible non profit-influencing items Avdragsgilla ej resultatpåverkande poster 15 -1.0 14 -0.9
Recognized effective tax Redovisad effektiv skatt -205 13.6 -295 18.9

Tax attributable to other comprehensive income

Pre-tax Tax After tax Pre-tax Tax After tax
Group, MSEK 2020 2019
Före skatt Skatt Efter skatt Före skatt Skatt Efter skatt
Koncernen, Mkr 2020 2019
Translation difference for the year foreign operations Årets omräkningsdifferens utländska verksamheter -194 -20 -214 49 8 57
Cash flow hedges Kassaflödessäkringar 5 -1 4 9 -2 7
Other comprehensive income Övrigt totalresultat -189 -21 -210 58 6 64

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 2020 2019 2020 2019 2020 2019 2020 2019
Uppskjuten skattefordran Uppskjuten skatteskuld Netto Förändringar redovisade i årets resultat
Koncernen, Mkr 2020 2019 2020 2019 2020 2019 2020 2019
Intangible assets Immateriella anläggningstillgångar -71 -57 -71 -57 24 3
Tangible assets Materiella anläggningstillgångar -806 -543 -806 -543 -106 -20
Investment property Förvaltningsfastigheter -5 -14 -5 -14 -4 -1
Financial fixed assets Finansiella anläggningstillgångar 2 1 2 1 1 0
Project and development properties Projekt- och exploateringsfastigheter -988 -1,464 -988 -1,464 487 350
Inventories Varulager 0 -1 -1 0 4 0
Accounts receivable Kundfordringar 31 98 31 98 -66 -82
Worked-up not invoiced income Upparbetad ej fakturerad intäkt 210 183 210 183 44 111
Other receivables Övriga fordringar 89 89 89 89 0 46
Interest-bearing liabilities Räntebärande skulder 1,100 1,483 1,100 1,483 -434 -827
Provisions for pensions Pensionsavsättningar 252 228 252 228 25 103
Provisions Avsättningar 172 82 172 82 31 40
Invoiced income not worked-up Fakturerad ej upparbetad intäkt -66 -67 -66 -67 1 123
Other liabilities Övriga skulder 399 421 399 421 -30 -1
Loss carry-forwards Underskottsavdrag 287 171 287 171 -49 -32
Tax allocation reserves Periodiseringsfonder -622 -527 -622 -527 -95 -100
Safety reserve Säkerhetsreserv -2 -31 -2 -31 29 120
Tax recoverables/tax liabilities Skattefordringar/-skulder 2,542 2,756 -2,561 -2,703 -19 53
Offset Kvittning -2,378 -2,555 2,378 2,555 – –
Net Netto 164 201 -183 -148 -19 53 -138 -167

Important material changes in deferred taxes on the balance sheet

Tax deficits have been acquired with the acquisition of YIT’s paving and mineral aggregates operations, which have been activated in the acquisition analysis. Additional deferred tax recoverables and tax liabilities have occurred in connection with the acquisition. For more information see note 6.  Annehem Fastigheter AB was distributed to shareholders in 2020 which led to a decrease in deferred tax recoverables and tax liabilities. For more information see not 46. The parent company and Group have reported distribution costs and associated tax of SEK 6 million in equity in connection with the distribution.

Deferred tax recoverables Changes recognized in profit/loss for the year
Parent company, MSEK 2020 2019 2020 2019
Uppskjuten skattefordran Förändringar redovisade i årets resultat
Moderbolaget, Mkr 2020 2019 2020 2019
Provisions for pensions Pensionsavsättningar 123 117 6 8
Other liabilities Övriga skulder 2 2 0 0
Net Netto 125 119 6 8

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 2020-12-31 as well as 2019-12-31 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.

In the Norwegian operations the ability to use loss carry-forwards of  SEK 537 million (595) remains uncertain. They have not been capitalized. The fiscal value of the non-capitalized loss carry-forward is SEK 118 million (131).

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.

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.