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12. Income tax expense


EUR million 2013 2012
Current tax 4.5 19.1
Tax for previous years -0.3 -0.1
Deferred tax -14.3 -2.4
Total -10.1 16.7



Reconciliation of tax charge at Finnish tax rate (24,5%)




Profit or loss before tax and associates' results -2.4 30.8
Income tax at Parent Company's tax rate -0.6 7.5
Effect of foreign subsidiaries’ different tax rates -0.2 -2.8
Non-deductible expenses and other differences 1.7 1.3
Tax-exempt income -3.6 -4.0
Tax from previous years -0.3 0.2
Effect of changes of tax rates on deferred tax 1.5 0.2
Unrecognized deferred tax asset on losses for the financial period 2.4 17.0
Changes in deferred tax assets for previous years' losses -11.1 -1.4
Other changes - Adjustment of depreciation in excess of plan - -1.3
Tax charge in the consolidated income statement -10.1 16.7



Effective tax rate 418.2% 54.3%