Page 127 - EVRY Annual Report 2012

Annual Accounts EVRY ASA 127
Tax
Deferred tax is calculated on the basis of the differences which exists at year-end between accounting and taxation
values.
Deferred tax arises in respect of the following differences as of 31 December:
NOK million 2012 2011 2010
Pension liabilities -8.7 -6.2 -7.0
Financial instruments -35.3 -39.6 -38.9
Long-term receivables/payables 64.4 72.5 9.7
Losses carried forward -7.1 -254.1 -155.3
Profit and loss account 0.0 0.0 -2.7
Gross timing differences 13.4 -227.3 -194.2
Deferred tax/(deferred tax asset) 3.7 -63.7 -54.4
Calculation of tax base for the year
Profit before tax 217.0 -32.8 662.3
Permanent differences 19.7 0.1 -696.1
Change in timing differences to P&L 10.6 -66.3 -32.1
Group Contribution -64.7 - -
Losses carried forward -182.6 99.0 65.9
Basis for tax payable - - -
An amount for group contribution was recognised in the accounts for 2012 that relates to a change in group contri-
bution recorded after the approval of the accounts for 2011.
NOK million 2012 2011 2010
Tax cost for the year comprises
Tax payable - - -
Change in deferred tax 66.3 -9.2 -9.5
Under/over accrual of tax prior year 8.6 - -
Total tax cost 74.9 -9.2 -9.5
Changes in deferred tax
Change in deferred tax to profit and loss 66.3 -9.2 -9.5
Tax on equity transactions 1.2 -0.2 2.5
Change in deferred tax 67.5 -9.4 -7.0
Effect of permanent differences
28% of profit before tax 60.8 -9.2 185.4
Expenses not deductible 5.5 0.0 -194.9
Non-taxable income - - -
Under/over accrual of tax prior year 8.6 - -
Tax for the year 74.9 -9.2 -9.5
Note 07