Hydroelectric plant

In Year-end closing - Information and tax - Information - Basis values ​​- you will find the work area for Hydroelectric plant. The area is activated by selecting 'Hydroelectric plant' from Edit feature areas.

The power plant overview contains a summary of calculated values ​​from the property tax base, natural resource tax and ground rent income before and after coordination with other group companies.

Coordination of ground rent income in the group

The power plant overview contains registration of coordination with other companies in the group, and values ​​registered have an effect on the final coordinated ground rent income.

Hydroelectric plant

This menu item contains a list of hydroelectric plants, and these are created by clicking on the plus icon in the upper right. Two different types of hydropower plants can be created here:

• With rent income (10,000+ kVA)

• Without rent income (< 10,000 kVA)

Hydropower plants without ground rent income

These power plants may have associated special operating assets in power plants.

Other tax-related depreciation can also be linked to the hydropower plant, and will be included as part of the property tax basis and the asset calculation for the power plant. Balance depreciation in balance groups a, c, d and g will be included as asset value of the power plant if they are linked to a power plant, and will otherwise be included as assets from the balance groups, as in other companies if they are not linked to a power plant.

The property tax base and asset value are calculated from the tax-depreciated value of the special operating assets in the power plant.

Hydroelectric plant with ground rent income

These are power plants that calculate ground rent income and natural resource tax. Property tax base and asset values ​​are calculated according to the special rules for the present value of calculated future cash flows according to the rules in the Tax Act.

Calculation of values for power companies

Calculations of these values are made technically by submitting values ​​to the Tax Administrations calculation functions, and making use of the Tax Administrations calculations of all the different calculated fields for power companies. This also requires that you log in to the Tax Administration functions within the program to identify yourself.

Ground rent income

Ground rent income is on a separate tab in Ground rent income at the individual hydroelectric plant.

Specification of gross rent income

Total annual production is recorded under the power plant information. Other data is recorded on a separate tab Ground rent income with the exception of power delivered in accordance with contract and profit from the realization of special fixed assets used in power production.

Contract income

Power delivered according to contract is registered on separate tab Contract revenue at the individual power plant. Contract income is an overview per contract, and here it is possible to import data from Excel.

Import from Excel

The import button can be found at the top right, to the left of the plus button for creating a new power plant. By pressing the import button, a dialog appears where you can download an Excel template for this import function. It is necessary to use this Excel template to import data.

When importing, there are two choices:

(1) Add imported data to the existing content and (2) Delete existing data and replace it with imported data.

Profit from the realization of special fixed assets used in power production

Amounts are calculated automatically by the Tax Administration on the basis of data on special operating assets in power plants.

Specification of deductions in ground rent income

Deductions in ground rent income consist of both data that is registered and data that is calculated by the Tax Administration on the basis of other data from the client's business specification and tax return. Some calculations are commented on below.

Tax-related depreciation of fixed assets used in power production

These are depreciation both on special operating assets in power plants and other tax-related depreciation (balance depreciation and linear depreciation otherwise). These are depreciations on the elements that are not directly deducted from the ground rent income at the time of investment.

Loss on realization of a special fixed asset used in power production

Amounts are calculated automatically by the Tax Administration on the basis of data on special operating assets in power plants.

Investment cost related to power production

These are elements that are stated as directly deducted from the ground rent income at the time of investment both on special operating assets in power plants and other tax-related depreciation (balance depreciation and linear depreciation otherwise).

This year's calculated corporation tax on business subject to ground rent

Amounts are calculated automatically by the Tax Administration on the basis of data on business specification and tax return.

This year's application of carried forward calculated negative corporation tax

Amounts are calculated automatically by the Tax Administration on the basis of data on business specification and tax return

Carry forward negative ground rent income from before 2007

Value carried forward from previous years must be registered here, while interest and application to deductions in positive ground rent income is calculated by the Tax Administrationy and automatically entered into the registration form.

Calculated company tax and calculated negative company tax to carry forward

Calculations of calculated fields are obtained from the Tax Administration calculations, and are obtained from the Tax Administration calculation functions.

Natural resource tax

Natural resource tax is on a separate tab in Natural resource tax at the individual hydroelectric plant. Values from previous years are taken from tax returns from previous years, and can also be registered manually.

Distribution of municipalities is done by registering a distribution key between the municipalities. Distribution keys can be any number, and are distributed based on the municipality's distribution key divided by the total distribution key for all municipalities if there are more than one municipality. It is not necessary to register a distribution key if there is only one municipality in the list.

Wealth/property tax

Basis for calculation specifies gross sales revenue for the current year, and sums up deductions for costs and ground rent tax. Gross sales revenue, gross operating costs and deductions for ground rent tax from the previous four years are taken from the previous year's tax return, and are not specified beyond this (new from 2023).

The present value calculation itself is carried out by the Tax administration, and is entered in Period & Year from the Tax Administrations calculations.

The present value of future replacement costs appears as the sum of values from the following objects linked to the power plant:

• Separate operating assets in power plants, value of the individual acquisition

• Balance depreciation

See Items, fields and topics in the new tax return for businesses for more information.