XML 51 R14.htm IDEA: XBRL DOCUMENT
v3.21.1

Income Taxes | 12 Months Ended
--- | ---
Dec. 31, 2020
Income Taxes |
Income Taxes | Note 10. Income Taxes (a) Analysis of charge/(credit) for the year:
|  | Year Ended
|  | December 31,
|  | 2020 |  | 2019 |  | 2018
|  | (USD in thousands)
Income tax expense/(benefit) |  | $ | (1,557) |  | $ | (825) |  | $ | (735)
Total income taxes for the year |  | $ | (1,557) |  | $ | (825) |  | $ | (735)
On December 31, 2020, the Company had tax loss carry-forwards in Denmark of $3.8 million (2019: $1.3 million; 2018: $0.1 million) for income tax purposes, all of which can be carried forward infinitely according to Danish Corporate Income Tax Act. The benefit from income taxes for each year includes a tax credit for research and development expenditures at the applicable tax rate under the Danish Tax Assessment Act and Australian tax legislation, respectively. (b) Reconciliation of effective tax rate to Danish statutory tax rate
|  | Year Ended December 31, |
|  | 2020 |  | 2019 |  | 2018 |
Statutory corporate income tax rate in Denmark |  | 22 | % | 22 | % | 22 | %
Non-deductible income / (expenses) |  | (1) | % | (5) | % | (10) | %
Non-taxable income / (expenses) |  | 1 | % | — |  | — |
Additional tax deduction R&D expenses |  | 3 | % | — |  | — |
Tax credit research and development expenditures |  | 9 | % | 7 | % | 12 | %
Change in deferred tax asset not capitalized |  | (25) | % | (17) | % | (12) | %
Total effective tax rate |  | 9 | % | 7 | % | 12 | %
(c) Deferred tax in the statements of financial position
|  | Year Ended
|  | December 31,
|  | 2020 |  | 2019 |  | 2018
|  | (USD in thousands)
Deferred Tax Positions: |  |  |  |  |  |  |  |  |
Warrants |  | $ | 4,289 |  | $ | 3,034 |  | $ | 1,463
Loss carry forward |  |  | 3,759 |  |  | 1,270 |  |  | 136
Research and development expenditures |  |  | 262 |  |  | — |  |  | —
Other items |  |  | (6) |  |  | (34) |  |  | 48
Valuation allowance on deferred tax assets |  |  | (8,042) |  |  | (4,270) |  |  | (1,647)
Total capitalized |  | $ | 262 |  | $ | — |  | $ | —
Deferred tax attributable to research and development expenditures relates to development costs recognized as an expense in the consolidated financial statements in 2020 and tax deductible in 2021. The costs are eligible costs under the Australian tax credit regime and the company therefore expects that the deferred tax assets will be realized through a tax refund for 2021. Under Danish tax legislation, the value of warrants to employees is income tax exempt subject to meeting certain conditions. The value of income tax exempt warrants is not tax deductible for the issuer. There is currently uncertainty in respect of the extent to which the conditions for being tax exempt are met and consequently the extent to which a tax deduction will be available for the company. Consequently, the deferred tax asset disclosed above is subject to uncertainty and there is a risk that the amount disclosed above is not tax deductible in full.

X
- References No definition available. + Details
Name: | evax_IfrsIncomeTaxDisclosureAbstract
Namespace Prefix: | evax_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for income taxes. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 12 -IssueDate 2020-01-01 -Section Disclosure -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=12&code=ifrs-tx-2020-en-r&doctype=Standard&dita_xref=IAS12_g79-88_TI -URIDate 2020-01-01 + Details
Name: | ifrs-full_DisclosureOfIncomeTaxExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration