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Tax
 12 Months Ended
Dec. 31, 2023
Tax [Abstract]  
Tax
Note 15 – Tax
 
DHT Holdings, Inc. is a foreign corporation that is not subject to United States federal income taxes. Further, DHT is not subject to income taxes imposed by the Marshall Islands, the country in which it is incorporated, and there are no U.S. legal entities. The Monegasque company, DHT Management S.A.M., is subject to income taxation in Monaco, the Norwegian management company, DHT Management AS, is subject to income taxation in Norway and the direct and indirect subsidiaries in Singapore, DHT Ship Management (Singapore) Pte. Ltd, DHT Chartering (Singapore) Pte. Ltd, Goodwood Ship Management Pte. Ltd., and Goodwood Shipping Agencies Pte. Ltd. are subject to income taxation in Singapore and the indirect Indian subsidiary, Goodwood Marine Services Pvt. Ltd. is subject to income taxation in India. The tax effects for the companies are disclosed below.
 
Specification of income tax

(Dollars in thousands)
  
2023
    
2022
    
2021
  
Income tax payable
  
$
532
    
$
592
    
$
378
  
Tax expenses related to previous year
    
47
      
(4
)
    
(27
)
Change in deferred tax
    
70
      
(1
)
    
9
  
Total income tax expense
  
$
649
    
$
587
    
$
360
  

Specification of temporary differences and deferred tax
    December 31,     December 31,     December 31,  
(Dollars in thousands)   2023
     2022
     2021
  
Property, plant and equipment
  
$
294
    
$
468
    
$
(11
)
Pensions
    
(900
)
    
(695
)
    
(662
)
Total basis for deferred tax
  
$
(606
)
  
$
(227
)
  
$
(674
)
Deferred tax liability(asset), net 1
  
$
(176
)
  
$
(113
)
  
$
(152
)
Deferred tax (asset), gross 2
    
(212
)
    
(168
)
    
(166
)
Deferred tax liability, gross 2
    
36
      
55
      
14
  

1
Due to materiality, recognized in prepaid expenses and not on a separate line in the statements of financial position.
2
Deferred tax liability related to one of the indirect subsidiaries in Singapore cannot be off-set with the deferred tax assets related to the subsidiary in Norway or one of the direct subsidiaries in Singapore.
 
Reconciliation of income tax expense

(Dollars in thousands)
  
2023
    
2022
    
2021
  
Profit/(loss) before income tax
  
$
162,046
    
$
62,567
    
$
(11,147
)
Expected income tax assessed at the tax rate for the Parent company (0%)
    
-
      
-
      
-
  
Adjusted for tax effect of the following items:
                        
Income in subsidiary, subject to income tax
    
649
      
587
      
360
  
Total income tax expense
  
$
649
    
$
587
    
$
360