| Group | Parent Company | ||||
| 2012 | 2011 | 2012 | 2011 | ||
| Current taxes | –1,338 | –973 | –102 | –307 | |
| Deferred taxes | 459 | 257 | 93 | 116 | |
| Taxes included in income for the period | –879 | –716 | –9 | –191 | |
| Deferred tax related to OCI | –2 | –104 | –5 | 6 | |
| Taxes included in total comprehensive income | –881 | –820 | –14 | –185 | |
On November 21, 2012, the Swedish parliament enacted a reduction of the corporate income tax rate from 26.3 to 22%, with an effective date of January 1, 2013. The revaluation per December 31, 2012, of Swedish deferred tax assets and liabilities has involved a positive effect of SEK 2m. In total, deferred taxes in 2012 include a negative effect of SEK –5m (7) due to changes in tax rates. The consolidated accounts include deferred tax liabilities of SEK 128m (157) related to untaxed reserves in the Parent Company.
| Theoretical and actual tax rates | ||
| % | 2012 | 2011 |
| Theoretical tax rate | 30.2 | 31.2 |
| Non-taxable/non-deductible income statement items, net | –1.8 | –2.5 |
| Non-recognized tax losses carried forward | 1.6 | 2.9 |
| Utilized non-recognized tax losses carried forward | –3.8 | –5.0 |
| Other changes in estimates relating to deferred tax | 3.6 | 6.5 |
| Withholding tax | 1.3 | 1.3 |
| Other | –5.8 | –8.6 |
| Effective tax rate | 25.3 | 25.8 |
The theoretical tax rate for the Group is calculated on the basis of the weighted total Group net sales per country, multiplied by the local statutory tax rates.
Non-recognized deductible temporary differences
As of December 31, 2012, the Group had tax loss carry-forwards and other deductible temporary differences of SEK 8,455m (6,739), which have not been included in computation of deferred tax assets. The non-recognized deductible temporary differences will expire as follows:
| December 31, 2012 | |
| 2013 | 200 |
| 2014 | 131 |
| 2015 | 107 |
| 2016 | 58 |
| 2017 | 170 |
| And thereafter | 4,392 |
| Without time limit | 3,397 |
| Total | 8,455 |
Changes in deferred tax assets and liabilities
The table below shows the movement in net deferred tax assets and liabilities.
| Net deferred tax assets and liabilities | |||||||||||
| Excess of depreciation | Provision for warranty | Provision for pension | Provision for restruc- turing |
Inven- tories |
Recog- nized unused tax losses |
Accured expense and prepaid income | Other | Total deferred tax assets and liabilities | Set-off tax | Net deferred tax assets and liabilities | |
| Opening balance, January 1, 2011 | –439 | 232 | 230 | 462 | –256 | 233 | 606 | 1,107 | 2,175 | — | 2,175 |
| Recognized in total comprehensive income | 65 | –33 | –162 | –13 | 42 | 228 | –44 | 70 | 153 | — | 153 |
| Acquisition of operations | –36 | 5 | — | — | –23 | — | — | –311 | –365 | — | –365 |
| Other | — | — | — | — | — | — | — | –43 | –43 | — | –43 |
| Exchange-rate differences | 11 | 2 | 21 | –2 | 13 | 16 | –2 | –100 | –67 | — | –67 |
| Closing balance, December 31, 2011 | –399 | 206 | 89 | 447 | –250 | 477 | 560 | 723 | 1 853 | — | 1 853 |
| Of which deferred tax assets | 109 | 256 | 515 | 447 | 156 | 477 | 562 | 1,518 | 4,040 | –1,060 | 2,980 |
| Of which deferred tax liabilities | –508 | –50 | –426 | — | –406 | — | –2 | –795 | –2,187 | 1,060 | –1,127 |
| Opening balance, January 1, 2012 | –399 | 206 | 89 | 447 | –250 | 477 | 560 | 723 | 1 853 | — | 1 853 |
| Recognized in total comprehensive income | 90 | -125 | 29 | –96 | 3 | 251 | 34 | 273 | 459 | — | 459 |
| Acquisition of operations | — | — | — | — | — | — | — | –24 | –24 | — | –24 |
| Exchange-rate differences | 26 | –5 | –13 | –15 | 15 | –59 | –28 | –51 | –130 | — | –130 |
| Closing balance, December 31, 2012 | –283 | 76 | 105 | 336 | –232 | 669 | 566 | 921 | 2,158 | — | 2,158 |
| Of which deferred tax assets | 107 | 171 | 582 | 336 | 153 | 669 | 573 | 1,657 | 4,248 | –942 | 3,306 |
| Of which deferred tax liabilities | –390 | –95 | –477 | — | –385 | — | –7 | –736 | –2,090 | 942 | –1,148 |
Other deferred tax assets include tax credits related to the production of energy-efficient appliances amounting to SEK 241m (331).