Note 11 – Taxes

Group 2015 2014
Current tax expense (–)/tax asset (+)
Tax expense/tax asset for the period -3 -12
Adjustment of tax attributable to prior years 0 0
Total -3 -12
Deferred tax expense (–)/tax asset (+)
Deferred tax related to temporary differences 0 2
Deferred tax asset attributable to tax loss carryforwards capitalized during the year 6 25
Deferred tax expense attributable to utilization of previously capitalized tax value in tax-loss carryforwards 0 -3
Deferred tax attributable to change in tax rate – –
Deferred tax expense attributable to impairment of capitalized tax value attributable to tax-loss carryforwards -11 -12
Others 1 -1
Total -4 11
Total consolidated reported tax expense (-)/tax asset (+) -7  -1
Parent Company 2015 2014
Current tax expense (–)/tax asset (+)
Tax expense/tax asset for the period – 0
Adjustment of tax attributable to prior years – –
Total – 0
Deferred tax expense (–)/tax asset (+)    
Deferred tax related to temporary differences 6 23
Total 6 23
Total reported tax expense (-)/ tax asset (+) Parent Company 6  23
Reconciliation of effective tax 2015 2014
Group  Percent  Amount Percent Amount
Profit/loss before tax -162 -72
Tax at prevailing rate for the Parent Company 22.0 % 36 22.0 % 16
Effect of different tax rates for foreign subsidiaries -0.4 % -1 0.2 % 0
Non-deductible expenses -17.3 % -28 -1.9 % -1
Non-taxable Revenues 0.1 % 0 -0.4 % 0
Increase of loss carryforward
without corresponding capitalization of deferred tax		 -7.2 % -12 -21.6 % -16
Taxes attributable to changed tax rate 0.0 % – 0.0 % –
Taxes attributable to previous years 0.0 % – 0.0 % –
Share in earnings of joint venture 0.2 % 0 0.2 % 0
Other -2.0 % -3 -0.5 % 0
Recognized effective tax -4.6 % -7 -2.0 % -1

Reconciliation of the effective tax rate for the Group is based on a weighted average of the nominal tax rates that apply to each of the companies within the Group included in continuing operations.
Reconciliation of effective tax 2015 2014
Parent Company  Percent  Amount Percent Amount
Profit/loss before tax -230 -154
Tax at prevailing rate
for the Parent Company		 22.0 % 51 22.0 % 34
Non-deductible expenses -22.7 % -52 -17.9 % -28
Non-taxable Revenues 3.3 % 7 10.9 % 17
Other 0.0 % 0 0.0 % 0
Recognized effective tax 2.6 % 6 15.0 % 23
Tax items recognized in other comprehensive income    
Group 2015 2014
Current tax for currency risk hedging in foreign operations -3 5
Total tax in other comprehensive income -3 5
Tax items recognized directly in equity    
Group  2015 2014
Deferred tax, Share Savings Scheme – 0
Tax items recognized directly in equity – 0