Komplett Bank annual report 2019

CALCULATIONS OF TAXABLE INCOME NOK million 2019 2018 Profit before tax 279.6 443.1 Permanent differences recognised in the statement of comprehensive income 21.0 5.7 Permanent differences recognised in equity -3.8 -3.7 Change in temporary differences which affect tax payable -148.8 -2.0 Basis for tax payable 147.9 443.1 Tax rate 25% 25% Tax payable 37.0 110.8 DEFERRED TAX OF ASSETS / LIABILITIES NOK million 2019 2018 Deferred tax of assets which affect tax payable Fixed assets -0.9 -0.1 Implementation effect of IFRS 9 impairments loans to customers - -157.8 Rental agreement 0.6 - Other assets -0.4 - Deferred tax of assets which affect tax payable -0.6 -157.9 Deferred tax of liabilities which affect tax payable Provisions -8.5 - Deferred tax of liabilities which affect tax payable -8.5 - Net differences which affect tax payable -9.1 -157.9 Change in differences which affect tax payable 148.8 -155.9 Deferred tax of assets not affecting tax payable 2019 2018 Securities and bonds measured at fair value 6.0 -0.2 Basis for deferred tax assets -3.1 -158.1 Tax rate 25% 25% Deferred tax assets 0.8 39.5 EXPLANATIONWHY THE TAX EXPENSE FOR THE YEAR DOES NOT AMOUNT TO 25%OF PROFIT BEFORE TAX NOK million 2019 2018 Profit before tax 279.6 443.1 25% of profit before tax 69.9 110.8 25% of permanent differences recognised in the statement of comprehensive income 5.2 1.4 25% effect of temporary differences not affecting tax payable 1.6 -0.1 Calculated tax expense 76.7 112.0 92 Notes to the financial statements