Note 14 Taxes Amounts in EUR thousand 1 Jan–31 Dec 2021 1 Jan–31 Dec 2020 Tax payable (4 958) (2 348) Correction of previous years current income taxes 324 309 Withholding tax (503) (395) Changes in deferred tax 556 1 025 Income tax (expense) benefit (4 581) (1 409) The Group's parent company is domiciled in Norway, where the applicable tax rate is 22 percent. 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 1 Jan–31 Dec 2021 1 Jan–31 Dec 2020 Net income (loss) before income taxes 7 518 (1 453) Tax expense (-) benefit at applicable tax rate (1 654) 320 Effect of different tax rates applied by subsidiaries (986) (367) Tax effect of permanent differences exempted for tax / not tax deductible 23 (60) Change in unrecognized deferred tax assets (897) (2 127) Tax effect of translation differences exempted for tax (931) 911 Correction of previous years current income taxes 367 309 Withholding tax (503) (395) Income tax expense (4 581) (1 409) Effective tax rate 61% (97%) Fiven Annual Report 2021 54 Financial statements
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