Komplett Bank Annual Report 2020

CALCULATIONS OF TAXABLE INCOME NOK million 2020 2019 Profit before tax 348.5 279.6 Permanent differences recognised in the statement of comprehensive income 6.1 21.0 Permanent differences recognised in equity -16.8 -3.8 Change in temporary differences which affect tax payable -6.5 -148.8 Basis for tax payable 331.2 147.9 Tax rate 25% 25% Tax payable 82.9 37.0 DEFERRED TAX OF ASSETS / LIABILITIES NOK million 2020 2019 Deferred tax of assets which affect tax payable Fixed assets -0.9 -0.9 Rental agreement -0.9 0.6 Other assets -0.8 -0.4 Deferred tax of assets which affect tax payable -2.6 -0.6 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 -2.6 -9.1 Change in differences which affect tax payable 6.5 148.8 Deferred tax of assets not affecting tax payable Securities and bonds measured at fair value 4.8 6.0 Basis for deferred tax assets 2.2 -3.1 Tax rate 25% 25% Deferred tax assets -0.5 0.8 EXPLANATIONWHY THE TAX EXPENSE FOR THE YEAR DOES NOT AMOUNT TO 25 PER CENT OF PROFIT BEFORE TAX NOK million 2020 2019 Profit before tax 348.5 279.6 25% of profit before tax 87.1 69.9 25% of permanent differences recognised in the statement of comprehensive income -2.7 4.2 25% of interest expenses AT1 capital 3.1 1.0 25% effect of temporary differences not affecting tax payable -0.3 1.6 Tax effect provisions made previous years -1.6 - Calculated tax expense 85.7 76.7 Komplett Bank Annual Report 2020 99