Page 47 - Bouvet årsrapport ENG 2010 ePub

Bouvet annual report 2010 47

Note 8: Income taxes

NOK 1 000 2009 2008

Income tax expense:

Tax payable 18 323 18 622 Changes in deferred taxes -268 -717 Tax expense 18 055 17 905

Income tax payable:

Ordinary proft before tax 67 013 60 386 Permanent differences (*) -5 497 878 Change in temporary differences 956 2 745 This years tax losses carry forward, not recorded in the balance sheet 2 966 2 497 Basis for tax payable 65 438 66 506 Tax 28% being tax payable on this year's proft 18 323 18 622

Tax payable in balance sheet:

Calculated tax payable 18 323 18 622 Payable tax for acquired companies befor acquisition date -143 -130 Total income tax payable 18 180 18 492

Reconciliation of effective tax rate

Ordinary proft before tax 67 013 60 386 Calculated tax 28% 18 764 16 908 Non taxable costs 1 348 267 Non taxable income -217 -21 Tax losses carry forward 830 699 Other permanent differences -2 670 52 Tax expense 18 055 17 905 Effective tax rate 27 % 30 %

Specifcation of basis for deferred tax: Basis for deferred tax asset

Fixed assets -2 386 -2 366 Pension obligation -5 160 -4 234 Tax losses carry forward -5 942 -3 709 Of this tax losses carry forward Sweden, not recorded in the balance sheet 5 942 2 971 Basis deferred tax asset – gross -7 546 -7 338

Basis deferred tax liability

Intangible assets 4 380 5 035 Fixed assets 4 0 Other differences 885 982 Basis deferred tax liability – gross 5 269 6 017

Basis deferred tax – net -2 277 -1 321 Net recognised deferred tax/ deferred tax asset (-) 28% -638 -370

(*) Negativ permanent difference is related to actual loss on accounts receivable towards subsidiaries in Sweden.