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NOTE 8
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INCOME TAXES | |
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NOK 1 000
|
2016
|
2015
|
|
The tax expense comprises:
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Income tax payable
|
111 730
|
69 025
|
|
Change in deferred tax
|
-113 095
|
136 730
|
|
Tax concerning prior periods
|
-27 968
|
-16 877
|
|
Withholding tax paid
|
19 238
|
13 030
|
|
Tax expense
|
-10 096
|
201 909
|
|
Tax payable in balance sheet
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|
NOK 1 000
|
2016
|
2015
|
|
Tax payable of the year
|
111 730
|
69 025
|
|
Group contribuiton rendered
|
-44 061
|
-59 559
|
|
Paid advance tax
|
-10 321
|
-
|
|
Tax payable from prior years
|
-
|
-9 467
|
|
Tax payable in balance sheet
|
57 347
|
-
|
|
Reconciliation of nominal to effective tax rate
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|
NOK 1 000
|
2016
|
2015
|
|
Profit before tax
|
2 364 123
|
2 024 665
|
|
Expected tax expense according to nominal tax rate (25%)
|
591 031
|
546 659
|
|
Non-taxable gain/loss and return on securities
|
-487 923
|
-414 993
|
|
Unrealised changes in value of securities
|
-139 566
|
-10 890
|
|
Adjustment of tax from prior periods
|
11 354
|
-16 877
|
|
Withholding tax paid
|
19 238
|
13 030
|
|
Tax recognised in other comprehensive income
|
-
|
- 522
|
|
Efffect of change in tax rate
|
-10 282
|
-28 789
|
|
Adjustment of deferred tax from previous periods 1)
|
-
|
112 095
|
|
Tax effect of other permanent differences
|
6 052
|
2 195
|
|
Tax expense
|
-10 096
|
201 908
|
|
Effective tax rate
|
-0.4 %
|
10.0 %
|
|
|
|
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|
Deferred tax
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|
NOK 1 000
|
2016
|
2015
|
|
Receivables
|
-5 109
|
-5 321
|
|
Gain and loss account
|
2 357
|
3 069
|
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Financial instruments
|
12 135
|
-10 113
|
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Tangible assets
|
151
|
234
|
|
Provisions
|
-1 025
|
5 323
|
|
Net pensions
|
-7 495
|
-7 502
|
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Shares and bonds
|
245 760
|
413 491
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|
Tax loss to carry forward 1)
|
-
|
-39 322
|
|
Balance sheet value at 31 Dec., deferred tax liability
|
246 775
|
359 859
|
|
Change in net deferred tax recognised in balance sheet
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|
NOK 1 000
|
2016
|
2015
|
|
Balance sheet value at 1 January
|
359 859
|
223 128
|
|
Charged in period
|
-113 095
|
137 253
|
|
Tax set-off against total comprehensive income (estimate deviation, pensions)
|
11
|
- 522
|
|
Balance sheet value at 31 December
|
246 775
|
359 859
|
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1) Ferd made a settlement with the authorities on 8 April 2016 and won the case in the question of deductability for carried interest for the income year 2013. As previous years were not part of the settlement, the deductions for the years before 2013 are not finally clarified, and we cannot recognise deferred tax assets related to these years in the balance sheet.
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