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Notes to the Group’s Financial Statements

22 Taxes
EURm 2014 2013
Profit before tax 1,759 1,668
Tax calculated at parent company's tax rate -352 -409
Different tax rates on overseas earnings -16 19
Income not subject to tax 3 5
Expenses not allowable for tax purposes -3 -3
Consolidation procedures and eliminations 149 159
Tax losses for which no deferred tax asset has been recognised -1 -9
Changes in tax rates 1 22
Tax from previous years -1 -1
Total -220 -216
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