Note 11 – Income taxes | iLOQ-vuosikertomus 2018

Tax based on the taxable income for the period

EUR thousand	2018	2017
Current tax for the reporting year	1,552	1,690
Current tax adjustments for prior years	-40	-109
Change in deferred taxes	147	146
Total	1,659	1,727

Reconciliation between the tax expenses in the income statement and the taxes calculated at the rate applicable in Finland

EUR thousand	2018	2017
Profit before tax	8,152	8,910

Tax calculated at the tax rate applicable in Finland (20%)	-1,630	-1,782
Unrecognized deferred tax assets from tax losses	-53	-57
Non-deductible expenses	-25	-7
Current tax adjustments for prior years	40	109
Postponed amortization in taxation and other differences	9	10
Income taxes on the statement of comprehensive income	-1,659	-1,727

Taxes are not recognised in other comprehensive income.

Changes in deferred taxes

2018
EUR thousand	01/01/2018	Recognized through profit or loss	Recognized in equity	Exchange rate differences and other changes	31/12/2018
Deferred tax assets
Postponed amortisation in taxation	144	-65	0	0	79
Tax losses carried forward	284	-60	0	0	223
Provisions	226	-21	0	0	204
Total	654	-147	0	0	507

2017
EUR thousand	01/01/2017	Recognized through profit or loss	Recognized in equity	Exchange rate differences and other changes	31/12/2017
Deferred tax assets
Postponed amortisation in taxation	273	-130	0	0	144
Tax losses carried forward	311	-26	0	0	284
Provisions	217	10	0	0	226
Total	801	-146	0	0	654

On December 31, 2018, the Group had EUR 264 thousand (December 31, 2017: EUR 286 thousand) of confirmed losses for which no deferred tax receivables have been recognized because the Group is unlikely to accrue taxable earnings that could be offset by these losses before the losses expire. The losses will expire in 2023.