DSV Annual Report 2022
74
DSV Annual Report 2022 Consolidated financial statements 2022
Chapter 5
Tax
= III
5.1 Income tax
Accounting policies
Current tax payables and receivables are recognised in the balance sheet
as tax calculated on the taxable income for the year adjusted for tax on
taxable income for previous years and for prepaid tax.
Tax for the year comprises current and deferred tax on profit or loss for
the year, interest expenses related to pending tax disputes and adjust-
ments to previous years, including adjustments due to tax rulings. Tax for
the year is recognised in the income statement, unless the tax expense
relates directly to items included in other comprehensive income or equity.
Tax rate (%)
2022
2021
Tax rate specifies as follows:
Calculated tax on profit for the year before tax
Adjustment of calculated tax in foreign
22.0%
22.0%
group enterprises relative to 22.0%
2.5%
2.4%
Change in deferred tax based on change
in income tax rate
0.0%
(0.1%)
Tax effect of:
Tax for the year (DKKm)
2022
2021
Non-deductible expenses/non-taxable income
Non-deductible losses/non-taxable
gains on shares
0.5%
0.7%
(0.1%)
0.0%
Tax for the year is disaggregated as follows:
Tax adjustment relating to previous years
0.6%
0.3%
Tax on profit for the year
5,550
3,650
Tax asset valuation adjustments, net
(2.3%)
(1.2%)
Tax on other changes in equity
322
(791)
Other taxes and adjustments
0.7%
0.4%
Tax on other comprehensive income
(52)
116
Effective tax rate
23.9%
24.5%
Total tax for the year
5,820
2,975
Tax on profit for the year is calculated as follows:
Current tax
5,704
3,830
Deferred tax
(302)
(220)
148
40
5,550
3,650
In 2022, we contributed with direct and
indirect taxes such as corporate taxes, VAT,
GST, duties, etc., in more than 80 countries.
Our corporate tax payments amounted to
DKK 5,178 million.
We believe in contributing to the societies and
communities we do business in. One of the
ways we do that is through our global tax
payments. In all tax matters, we act in a fair,
compliant and responsible way.
Tax adjustment relating to previous years
Total tax on profit for the year
Tax on other comprehensive income
specifies as follows:
Fair value adjustment of hedging instruments
Actuarial gains/(losses)
(2)
3
54
(119)
Total tax on other comprehensive income
52
(116)View entire presentation