Page 74 - Bouvet årsrapport ENG 2010 ePub

Bouvet annual report 2010 74

Note 6: Income taxes

NOK 1 000 2010 2009

Income tax expense:

Tax payable 17 993 18 622 Changes in deferred taxes -6 -524 Tax expense 17 987 18 098

Income tax payable:

Ordinary proft before tax 60 241 63 760 Permanent differences 3 999 875 Change in temporary differences 20 1 871 Basis for tax payable 64 260 66 506 Tax 28% being tax payable on this year's proft 17 993 18 622

Tax payable in balance sheet:

Calculated tax payable 17 993 18 622 Tax payable set off directly against equity 0 0 Total income tax payable 17 993 18 622

Reconciliation of effective tax rate:

Proft before tax 60 241 63 760 Tax calculated based on 28% 16 867 17 853 Non tax deductible costs 1 337 266 Non taxable income -217 -21 Tax expense 17 987 18 098 Effective tax rate 30 % 28 %

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

Fixed assets -2 134 -2 047 Pension obligation -5 160 -4 234 Basis deferred tax asset – gross -7 294 -6 281

Basis deferred tax liability

Other differences 1 792 798 Basis deferred tax liability – gross 1 792 798

Basis deferred tax – net -5 502 -5 483 Net recognised deferred tax/ deferred tax asset (-) 28% -1 540 -1 535