Annual Report 2005 (6 MB) - Lundin Petroleum

NOTES
The tax on the Group’s profi t before tax diff ers from the theoretical amount that would arise using the tax rate of Sweden as follows:
Group
2005
> 62 <
Group
2004
Parent
Company
2005
Parent
Company
2004
Profi t before tax 1,860,709 846,861 6,265 -28,673
Tax calculated at the corporate tax rate in Sweden (28%) -521,001 -237,121 -1,754 8,028
Eff ect of foreign tax rates -302,208 -159,738 – –
Tax eff ect of expenses non-deductible for tax purposes -5,759 948 – –
Tax eff ect of deduction for petroleum tax 32,831 3,798 – –
Tax eff ect of income not subject to tax 18,634 62,180 – –
Tax eff ect of utilisation of unrecorded tax losses – 82,379 1,754 –
Tax eff ect of creation of unrecorded tax losses -78,898 -7,991 – -8,028
Adjustments to prior year deferred taxes -14,863 -4,726 – –
Adjustments to prior year tax assessments -16,520 10,801 – –
-887,784 -249,470 – –
Group
Group
Current tax liability
Corporation tax
2005
2004
United Kingdom 63,550 –
France – 1,867
Netherlands – 1,934
Indonesia 2,413 –
Venezuela 44,917 15,146
Total corporation tax liability, current 110,880 18,947
Petroleum tax
Netherlands 6,811 16,403
Total petroleum tax liability, current 6,811 16,403
Total current tax liability 117,691 35,350
Group
Group
Deferred tax liability
Corporation tax
2005
2004
United Kingdom 912,695 683,659
France 129,197 89,775
Norway 436,294 157,290
Netherlands 148,663 136,714
Indonesia 88,723 37,302
Venezuela -3,565 -3,447
Total corporation tax liability, deferred 1,712,007 1,101,293
Petroleum tax
United Kingdom 12,264 53,835
Netherlands 10,787 11,004
Total petroleum tax liability, deferred 23,051 64,839
Total deferred tax liability 1,735,058 1,166,132