2022

2021

2020

(EUR’000)

Tax on profit/(loss) for the year:

Current tax (expense)/income

(5,377

)

367

219

(5,377

)

367

219

Tax for the year can be explained as follows:

Profit/(loss) before tax

(577,817

)

(383,944

)

(419,174

)

Tax at the Danish corporation tax rate of 22%

127,120

84,468

92,218

Tax effect of:

Non-deductible costs

(17,094

)

(14,800

)

(11,815

)

Additional tax deductions

13,720

17,117

24,564

Impact from associate

(3,893

)

3,169

(1,326

)

Other effects including effect of different tax rates

(2,716

)

305

2,673

Deferred tax asset, not recognized

(122,514

)

(89,892

)

(106,095

)

Tax on profit/(loss) for the year

(5,377

)

367

219

Effective tax rate

0.93

%

(0.10

)%

(0.05

)%

2022

2021

2020

(EUR’000)

Specification of Deferred Tax Assets

Tax deductible losses

433,174

313,011

227,234

Other temporary differences

19,961

12,856

7,726

Deferred tax asset, not recognized

(453,135

)

(325,867

)

(234,960

)

Total Deferred Tax Assets at December 31

—

—

—