Fiven Annual Report 2020

Note 14 Taxes Amounts in EUR thousand 01.01-31.12.2020 05.02-31.12.2019 Tax payable -2,348 -1,600 Correction of previous years current income taxes 309 - Withholding tax -395 -149 Changes in deferred tax 1,025 109 Income tax (expense) benefit -1,409 -1,641 The Group's parent company is domiciled in Norway, where the applicable tax rate is 22 per cent. The reconciliation of the expected to the actual income tax expense is based on the applicable tax rate in Norway. RECONCILIATION OF TAX (EXPENSE) BENEFIT TO NOMINAL STATUTORY TAX RATE Amounts in EUR thousand 01.01-31.12.2020 05.02-31.12.2019 Net income (loss) before income taxes -1,453 -3,332 Tax expense (-) benefit at applicable tax rate 320 733 Effect of different tax rates applied by subsidiaries -367 -296 Tax effect of permanent differences exempted for tax -18 89 Tax effect of not tax deductable transaction costs - -436 Tax effect of other permanent differences not tax deductible -42 -87 Change in unrecognized deferred tax assets -2,127 -1,284 Tax effect of translation differences exempted for tax 911 -213 Correction of previous years current income taxes 309 - Withholding tax -395 -149 Income tax expense -1,409 -1,641 Effective tax rate -97% -49% Fiven Annual Report 2020 52   Financial statements