Profit before tax
The result after finance items, but before tax has been taken out.
Profit before tax is the operating result adjusted for financial income and financial costs. It is the last line before tax.
The difference between this figure and net profit is the tax charge. Norway taxes profit as it is earned, at a general corporate rate of 22 per cent, so a profitable company will normally carry a tax charge that accounts for the gap.
The rate is not the same for everyone: financial institutions and petroleum activity have their own rules, and losses carried forward from earlier years can make the charge small or nil in a year that shows a profit.
Where this figure comes from
Read from the “Profit before tax” line of the income statement in the annual accounts.
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