iLOQ-vuosikertomus 2018

Note 11

Income taxes

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.