Page 53 - Sector Alarm Annual Report 2020

Sector Alarm / Annual Report 2020
2020
2019
12 836 272 633 -259 797
2019
-262 239
3 467 -5 033 4 909 -901 -259 797
Deferred tax liabilities
1 078 727
0
0
0
0
48 656
1 127 383
0
1 127 383
121 361
283 271
-161 910
Deferred tax asset
Deferred tax liabilities
Net deferred benefit/liability (-) in the balance sheet
The following information presents how deferred tax liability and deferred tax asset are before netting in the balance sheet:
Changes in deferred tax/deferred tax asset in the balance sheet:
Balance at 1 January
Currency translation
Recognized in the period
Changes in tax rate
Other
Balance at 31 December
Specification of the tax effect of temporary differences and losses carried forward:
2020
-259 797
-19 413
104 837
12 191
272
-161 910
2020
Deferred tax assets
1 077
859
79 431
137 590
25 825
2019
Property, plant and equipment
Accounts receivables
Other provisions and accruals
Losses carried forward
Limitations of tax deductability of interest expense
Deferred tax liabilities
229 963
0
0
0
0
73 108
303 071
0
303 071
Deferred tax assets
852 200
833
676
114 726
0
1 644
970 079
-102 493
867 586
-259 797
Other 1
100
Total recognized deferred tax assets
Unrecognized deferred tax assets
Deferred benefit/liability
Net deferred benefit/liability (-) in the balance sheet
245 883
-104 722
141 161
-161 910
The deferred tax benefit is included in the balance sheet on the basis of future income.
The Group has losses carried forward of NOK 105 million in the Netherlands, France, Spain and Finland that was not recognized as at 31 December 2020.
A deferred tax asset is recognised for the carryforward of unused tax losses and unused tax credits to the extent that it is probable that future taxable profit will be available against which the unused tax losses and unused tax credits can be utilised.
At the reporting date, the Group has unused tax losses of NOK 625,5 million (2019: NOK 521,1 million) available for offset against future profits. A deferred tax asset has been recognised in respect of NOK 32,9 million (2019: NOK 17 million) of such losses. No deferred tax asset has been recognised in respect of the remaining NOK 104,7 million (2019: NOK 101 million) as it is not considered probable that there will be future taxable profits available.
Included in unrecognised tax losses are losses of NOK 11 million that will expire in 2021, NOK 29 million in 2022, NOK 7 million in 2023, NOK 20 million in 2024, NOK 14 million in 2025 and NOK 295 million above 5 years. Other losses may be carried forward indefinitely.