12. Tax
The income tax expenses for the year can be reconciled with the accounting profit as follows:
2024 | 2023 | |
Result before tax | 1,128 | (655) |
Income tax expense calculated at 25.8% | 291 | (169) |
Effect of income that is exempt from taxation | 288 | (170) |
Tax loss carry forward | (2) | - |
Income tax expense recognised in profit or loss | 1 | 1 |
The effective tax rate is | 0% | 0% |
There is no deferred tax asset for tax loss carry forwards and differences in measurement for expected future profitability of Vesteda Project Development B.V.
The total tax loss carry forward can be specified as follows:
2018 | 1 |
2019 | - |
2020 | - |
2021 | - |
2022 | - |
2023 | - |
2024 | - |
Total | 1 |
The tax losses from 2018 can be carried forward without any limitation in the feature up to a maximum of €1 million per year. As per 31-12-2024 the deferred tax asset has not been capitalised.