Saab 2014 Annual Report Download - page 97
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FINANCIAL INFORMATION – NOTES
Note 15, cont.
Reconciliation of effective tax
Group
MSEK 2014 (%) 2014 2013 (%) 2013
Income before taxes 1,523 979
Tax according to current tax
rate for the Parent Company -22.0 -335 -22.0 -215
Effect of other tax rates for
foreign operations 0.7 11 -0.5 -5
Non-deductible expenses -9.7 -147 -16.1 -158
Tax-exempt income 4.6 70 7.4 72
Tax on additional, non-
capitalised tax loss carry
forwards - - -0.4 -4
Tax on utilisation of pre-
viously non-capitalised tax
loss carry forwards 0.3 4 0.7 7
Capitalisation of tax loss
carry forwards attributable to
previous years 0.9 13 1.9 19
Tax related to previous years 1.9 29 4.9 48
Other - - -0.1 -1
Reported effective tax -23,3 -355 -24.2 -237
Non-deductible expenses are mainly related to leasing operations in the US.
Capital gains/losses from sale of Group companies, associated companies and
other shares and reduction of liability for conditional consideration have affected
tax-exempt income by MSEK 182 (146).
Parent Company
MSEK 2014 (%) 2014 2013 (%) 2013
Income before taxes 1,487 1,085
Tax according to current tax
rate for the Parent Company -22.0 -327 -22.0 -239
Tax allocated to foreign
operations 0.1 2 -0.1 -1
Tax related to previous years 0.1 2 0.2 2
Non-deductible expenses -5.5 -82 -20.2 -219
Tax-exempt income 5.9 88 23.7 257
Reported effective tax -21.3 -317 -18.4 -200
Deferred tax assets and liabilities
Group
MSEK
Deferred
tax assets
31-12-2014
Deferred
tax
liabilities
31-12-2014 Net
Intangible fixed assets 8 -293 -285
Tangible fixed assets 9 -389 -380
Lease assets - - -
Biological assets - -40 -40
Long-term receivables 8 -23 -15
Inventories 220 -1 219
Accounts receivable 12 -1 11
Prepaid expenses and accrued income 26 - 26
Long-term liabilities 44 - 44
Provisions for pensions 770 -11 759
Other provisions 342 -2 340
Tax allocation reserves - -358 -358
Contingency reserve attributable
to Lansen Försäkrings AB - -299 -299
Accrued expenses and deferred income 83 -1 82
Other 152 -50 102
Tax loss carry forwards 402 - 402
Tax assets/liabilities, total 2,076 -1,468 608
Set-off -1,420 1,420
Tax assets /liabilities, net 656 -48 608
Group
MSEK
Deferred
tax assets
31-12-2013
Deferred
tax
liabilities
31-12-2013 Net
Intangible fixed assets 6 -398 -392
Tangible fixed assets 10 -371 -361
Lease assets - -40 -40
Biological assets - -42 -42
Long-term receivables 8 -25 -17
Inventories 195 -8 187
Accounts receivable 7 - 7
Prepaid expenses and accrued income 21 - 21
Long-term liabilities 48 -1 47
Provisions for pensions 404 -13 391
Other provisions 306 -22 284
Tax allocation reserves - -264 -264
Contingency reserve attributable
to Lansen Försäkrings AB - -299 -299
Accrued expenses and deferred income 108 - 108
Other 25 -105 -80
Tax loss carry forwards 188 - 188
Tax assets/liabilities, total 1,326 -1,588 -262
Set-off -1,087 1,087
Tax assets /liabilities, net 239 -501 -262
SAAB ANNUAL REPORT 2014 – 93