Note 19 Deferred Tax Liability/Asset

A realisation of all assets and liabilities at consolidated carrying amounts and utilisation of all existing tax loss carry forwards would result in a taxable income of MSEK 63,027 (55,838); with a full tax burden, this would give rise to a tax payment of MSEK 12,983 (11,501). Castellum has a deferred tax liability of MSEK 1,622 (1,348) attributable to the acquisition date of properties recognised as asset acquisitions. According to the applicable regulations, the deferred tax at the acquisition date is not to be recognised in the balance sheet, which is shown in the table below.

The Parent Company recognises a deferred tax asset of MSEK 0 (14), equivalent to 20.6% of the unutilised tax loss carry forwards of MSEK 0 (70).

Tax loss carry forwards

As of 31 December 2020, Castellum’s tax loss carry forwards are estimated at MSEK 603 (854). The change is presented in Note 11. The tax loss carry forwards have no maturity date.

Surplus and sub value of properties for tax purposes

When calculating the tax effect in the Group of a direct sale of all properties, the tax base in the legal entity – which totals MSEK 40,015 (38,803) – is to be set against the consolidated carrying amount of MSEK 103,042 (95,168). This means that if all of Castellum’s properties were sold, the taxable net profit would exceed the profit recorded in the Group by MSEK 63,027 (56,365).

 

 

2020

 

2019

Deferred tax liability

 

Basis

 

Tax

 

Basis

 

Tax

Tax loss carry forwards

 

 

 

 

 

 

 

 

Opening balance

 

854

 

182

 

1,081

 

231

Change for the year in comprehensive income

 

–251

 

–53

 

–227

 

–49

Closing balance in the balance sheet

 

603

 

129

 

854

 

182

Difference between the properties’ book and fiscal values

 

 

 

 

 

 

 

 

 

Opening balance

 

–56,365

 

–11,612

 

–50,553

 

–10,428

Change for the year in comprehensive income

 

–5,333

 

–1,096

 

–4,235

 

–861

Acquisitions in corporate wrappers

 

–1,329

 

–275

 

–1,577

 

–323

Closing balance

 

–63,027

 

–12,983

 

–56,365

 

–11,612

Less, attributable to asset acquisitions

 

 

 

 

 

 

 

 

Opening balance

 

6,553

 

1,348

 

4,976

 

1,025

Acquisitions in corporate wrappers

 

1,319

 

274

 

1,577

 

323

Closing balance in the balance sheet

 

7,872

 

1,622

 

6,553

 

1,348

Closing balance in the balance sheet

 

–55,155

 

–11,361

 

–49,812

 

–10,264

Untaxed reserves

 

 

 

 

 

 

 

 

Opening balance

 

–327

 

–71

 

–144

 

–31

Change for the year in comprehensive income

 

–344

 

–73

 

–183

 

–40

Closing balance in the balance sheet

 

–671

 

–144

 

–327

 

–71

Total

 

 

 

 

 

 

 

 

Opening balance

 

–49,285

 

–10,153

 

–44,640

 

–9,203

Change for the year in comprehensive income

 

–5,938

 

–1,223

 

–4,645

 

–950

Closing balance in the balance sheet

 

–55,223

 

–11,376

 

–49,285

 

–10,153

Previous impairments where taxable deductions were paid amount to approximately MSEK 56 (45). These may be reversed in the case of future increases in value.