Note 23 - Deferred tax

DKKm		2007	2006
	Deferred tax
	Tax asset
	Operating equipment	84	104
	Debt and provisions	0	122
	Bonds and loans secured by mortgages	84	9
		168	235

	Tax liability
	Land and buildings	157	111
	Contingency funds	1,021	945
	Debt and provisions	33	0
	Shares etc.	0	99
	Intellectual property rights	64	39
		1,277	1,194
	Deferred tax, end of year	1,109	959

	Unaccrued deferred tax assets or liabiliaty of shares etc.	102	-102
	Unaccrued deferred tax assets or liabiliaty of balancesheets items.	6	0

	Reconciliation of deferred tax, beginning of year
	Deferred tax, beginning of year	959	939
	Exchange rate adjustment	27	-20
	Change in tax rate in Denmark	-20	73
	Change in deferred tax taken to the income statement	119	0
	Change in deferred tax taken to equity	24	-33
		1,109	959

	Non-capitalised tax loss
	Denmark	72	72
	Sweden	105	41
	Finland	142	84


	The loss in TrygVesta A/S cannot be utilised in the Danish joint taxation scheme. The loss can be carried forward indefinitely.

	Under Finnish rules, losses may be carried forward for ten years and under Swedish rules, losses may be carried forward indefinitely.

	The total current and deferred tax relating to items recognised in equity is recognised in the balance sheet in the amount of DKK 4m. (2006 DKK 35m).

	No deferred tax is associated with investments in subsidiaries (2006 0 DKK).