Notes
Note 8. Income taxes Amounts in NOK 1 000
Taxes for the year are as follows:
2010
Tax payable
2009
2 983
2 629
(3 261)
(2 330)
Changes in deferred tax
(335)
(496)
Tax on ordinary profit
(614)
(197)
2 983
3 629
312
309
87
86
Tax effect on net refund under incentive scheme for R&D (Skattefunn)
(554)
(554)
Non-deductible cost, part of pension cost
3 131
2 595
(3 261)
(2 330)
(16)
7
Refunded tax
Tax payable: Tax payable in balance sheet Reconciliation from nominal to effective tax rate: Ordinary profit before tax Calculated income tax at nominal tax rate (28%) Fiscal effect of the following items :
Refunded tax Non-taxable income, interest on tax receivable Tax Effective tax rate
(614)
(197)
(196.4%)
(63.8%)
Specification of temporary differences and their net tax effect: 2010
2009
Benefit
Obligation
Benefit
Obligation
Temporary differences, operating equipment
5 297
0
4 100
0
Net deferred tax benefit/obligation in the balance sheet
1 483
0
1 148
0
Note 9. Bank deposits Bank deposits and cash include NOK 9 159 292 in tied tax withholdings.
Note 10. Guarantees The company has furnished a bank guarantee in the amount of EUR 500 000 to the Belgian authorities relating to Belgian VAT, and a statutory bank guarantee in the amount of EUR 2 000 000 related to ATZ pensioners in Germany.
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