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INCOME TAXES

12 Months Ended

Dec. 31, 2020


9.			INCOME TAXES

The components of income tax expense are as follows:


	Year ended December 31
(in thousands of $)	2020	2019	2018





Current tax expense	809	906	836
Deferred tax expense	172	118	431


Total income tax expense	981	1,024	1,267

The income taxes for the years ended December 31, 2020, 2019 and 2018 differed from the amount computed by applying the Bermuda statutory income tax rate of 0% as follows:


	Year ended December 31
(in thousands of $)	2020	2019	2018
Effect of movement in deferred tax balances	172	118	431
Effect of adjustments in respect of current tax in prior periods	37	86	(369)
Effect of taxable income in various countries	772	820	1,205
Total tax expense	981	1,024	1,267

Jurisdictions open to examination

The earliest tax years that remain subject to examination by the major taxable jurisdictions in which we operate are: 2019 (UK) and 2016 (Norway).

Deferred taxes

Deferred income taxes reflect the impact of temporary differences between the amount of assets and liabilities recognized for financial reporting purposes and such amounts recognized for tax purposes and pensions.

As of December 31, 2020, we have a deferred tax liability of $0.6 million (2019: $1.7 million)

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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