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Note 19 - Income tax

 GroupParent Company
SEK m2012 2011 2012 2011
Current tax for the year-48-420 0 
Current tax attributable to previous years 1 -5--
Deferred tax-32 -51-48-38
Tax on net income for the year-79-98 -48-38

Current tax for the year includes an adjustment in respect of a concluded tax audit in Germany entailing a cost of SEK 11 m. The tax audit also results in an increase of SEK 16 m in deferred tax. Together, these factors positively affect tax reported for the year by SEK 5 m.

Deferred tax in the income statement consists of the following items:

 GroupParent Company
SEK m2012 2011 2012 2011
Deferred tax, internal profit on inventories-20--
Deferred tax, untaxed reserves15-8 --
Deferred tax, appraised loss carry-forwards-45-40 -51-38
Deferred tax, financial instruments 0300
Deferred tax, other 0-6 3- 
Total deferred tax -32-51 -48-38

Income tax on the Group's income before tax differs from the theoretical amount which would have arisen upon use of a weighted average tax rate for the income in the consolidated companies in accordance with the following:

 GroupParent Company
SEK m2012 2011 2012 2011
Reported income before tax202358110198
Tax according to applicable tax rate-53-94-29-52
Tax effect of non-deductible expenses-4-1-27-27
Tax effect of non-taxable income  744141
Effect of foreign tax rates0-100
Tax income/expenses due to changed tax rate -30-1 -33-
Current tax attributable to previous years1 -5 -0
Tax on income for the year according to the income statement -79-98 -48-38

Tax rate

The Parent Company’s applicable income tax rate is 26.3% (2011: 26.3%). As from January 1, 2013, the tax rate in Sweden (the Parent Company) is reduced to 22%. This effect has been taken into consideration when calculating deferred tax in the Swedish companies. 

Temporary differences

Temporary differences exist in those cases where the reported values and tax values of assets or liabilities differ. Changes are in deferred tax assets and liabilities during the year, without consideration being given to set-offs made under the same tax law.

Deferred tax assets

SEK m, GroupLoss carry-forwardsInternal
profit		Financial instrumentsOther*Total
Per December 31, 20102703011284
Reported in income statement-400 0-4-44
Exchange rate differences-10 - -1-2
Per December 31, 2011229306238
Reported in income statement-12-20 8-6
Effect of changed tax rates reported in the income statement-33---1-34
Reported in other comprehensive income - - - -0
Exchange rate differences -1- - - -1
Per December 31,  2012 183 1 013 197
*'Other' relates, among other things, to deferred tax on bad debts and provisions for restructuring expenses.

Loss carry-forwards relate essentially to completed restructuring. As regards the valuation of loss carry-forwards, see Note 4.1. It is currently the management's assessment that the implemented restructuring measures in the future will lead to taxable surpluses against which loss carry-forwards might be utilized. 

Deferred tax liabilities 

SEK m, GroupUntaxed reservesFinancial instruments OtherTotal
Per December 31, 20102236 31 
Reported in income statement8-32 7 
Exchange rate differences - - 0 0
Per December 31, 2011300838 
Reported in income statement -11 0 6-5 
Effect of changed tax rates reported in the income statement-3--1-4
Exchange rate differences- -00 
Per December 31,  201216 01329 

'Other' includes deferred tax on pensions.

The deferred tax is valued in accordance with the applicable tax rate in each country.

 Deferred tax assets Deferred tax liabilities
SEK m, Parent CompanyLoss carry-forwards* Financial instruments OtherTotalFinancial instruments  
Per December 31, 2010 257 0 0257 0 
Reported in income statement-38-0-380 
Reported in other comprehensive income--00- 
Exchange rate differences -1- --1-  
Per December 31,  2011 2180 02180 
Reported in income statement  -18 30-15 - 
Effect of changed tax rates reported in the income statement-330--33- 
Reported in other comprehensive income---0- 
Exchange rate differences0 -- 0- 
Per December 31, 2012 1673 01710  
*All loss carry-forwards in the Parent Company are perpetual. 'Other' refers to write-down of real estate.

Deferred tax assets and liabilities are set-off when there is a legal right of set-off for the relevant tax assets and liabilities and when deferred taxes relate to the same tax authority. No set-off has taken place.

Reporting of expiration dates:

 GroupParent Company
SEK m2012 2011 2012 2011
Deferred tax assets    
Utilized after more than 12 months 151186 135 177 
Utilized within 12 months4652 35 41 
Total197238171 218 
     
Deferred tax liabilities    
Utilized after more than 12 months 1631  --
Utilized within 12 months137 - - 
Total 2938 0 0 

The net change regarding deferred taxes is as follows:

 GroupParent Company
SEK m2012 20112012 2011
Opening balance200253 218257
Reported in income statement-1-51-15-38
Effect of changed tax rates reported in the income statement-30--33-
Reported in other comprehensive income0000
Exchange rate differences-1-20-1
Closing balance 168200  171218

Tax regarding items reported directly against shareholders’ equity

Deferred taxes reported in shareholders’ equity during the year amount to SEK 0 m (2011: SEK 0 m) in both the Group and the Parent Company.

 

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