Annual report 2008 - Comrod

CONT. NOTE 7 PENSION OBLIGATIONS(NOK) Benefit liability and plan assets: present value of funded obligations 2008 2007Present value of funded obligations 353 662 97 675Fair value of plan assets (183 352) 0Net liability recognised in balance sheet 31.12 170 310 97 675Net liability 1.1 97 675 0Recognised benefit expense 211 909 97 675Premium payments (199 003) 0Recognised actuarial gains/losses 59 729 0Net liability recognised in balance sheet 31.12 170 310 97 675The calculation of pension expense and net pension liability 2008 2007are based on the following assumptions:Discount rate 4.30% 4.70%Expected salary increase 4.50% 4.50%Expected pension increase 2.00% 2.00%Adjustment of national insurance base rate 4.25% 4.25%Expected return on plan assets 6.30% 5.50%Proportion of employees taking early retirement 40.00% 40.00%Mortality table K 2005 K 1963NOTE 8 TAX(NOK) Tax expence of the year as following 2008 2007Tax payable on taxable income for the year 0 0Tax on exchange loss posted directly to equity 3 883 859 0Recognised change in deferred tax (1 283 767) 0Correction tax from last year 50 295 0Tax expenses for the year 2 650 387 0Reconciliation of actual vs calculated tax expensesTax expenses for the year 2 650 387 028% of net income before tax 5 771 847 2 800 000Difference 3 121 460 2 800 000Comrod Communication Group Annual report 2008 75