ANNUAL REPORT 2021
LUNDBECK
ANNUAL REPORT 2021
E CONTENTS
CONSOLIDATED FINANCIAL STATEMENTS
NOTE 5
5 INCOME TAXES - CONTINUED
Explanation of the Group's effective tax rate
DKKm
%
2021
Profit before tax
Calculated tax, 22%
2020
1,581
Profit before tax
348
22.0
Calculated tax, 22%
Tax effect of:
Tax effect of:
Differences in the income tax rates of foreign subsidiaries from the Danish corporate income
tax rate
33
2.1
Differences in the income tax rates of foreign subsidiaries from the Danish corporate income
tax rate
Non-deductible expenses/non-taxable income and other permanent differences
72
4.6
Non-deductible expenses/non-taxable income and other permanent differences
Research and development incentives
(76)
(4.8)
Research and development incentives
Foreign-derived intangible income benefit
(32)
(2.0)
Foreign-derived intangible income benefit
Non-deductible amortization of product rights
16
1.0
Non-deductible writedown on intangible assets
Change in valuation of net tax assets
Change in deferred tax as a result of changed income tax rates
Prior-year tax adjustments etc., total effect on operations
Effective tax/tax rate for the year
(82)
(5.2)
Non-deductible amortization of product rights
(1)
(0.1)
Change in valuation of net tax assets
(15)
(1.0)
Change in deferred tax as a result of changed income tax rates
263
16.6
Prior-year tax adjustments etc., total effect on operations
Effective tax/tax rate for the year
61/111
DKKm
%
1,906
419
22.0
20
1.0
59
3.1
(69)
(3.6)
(26)
(1.4)
111
5.8
101
5.3
(286)
(15.0)
36
1.9
(40)
(2.1)
325
17.0View entire presentation