2013 Registration document and annual financial report - page 227

Registration Document 2013
225
Financial Statemements
5
Consolidated Financial Statements And Notes
Note 16.2. Effective tax rate
(in millions of euros)
2012
2013
OPERATING PROFIT BEFORE TAX (A)
239
259
Non deductible impairment losses
75
44
Elimination of intercompany capital gains
5
-
Tax on share of profit (loss) of associates
3
5
Other
11
1
TOTAL PERMANENT DIFFERENCES (non-deductible expenses) (B)
94
50
UNTAXED PROFIT AND PROFIT TAXED AT A REDUCED RATE (C)
(11)
12
Profit taxed at standard rate (D) = (A) + (B) + (C)
322
321
STANDARD TAX RATE IN FRANCE* (E)
36.1% 38.0%
TAX AT STANDARD FRENCH TAX RATE (F) = (D) X (E)
(116)
(122)
Effects on tax at standard French tax rate of:
ƒƒ
Differences in foreign tax rates
24
26
ƒƒ
Unrecognized tax losses for the period
(41)
(36)
ƒƒ
Utilization of tax loss carryforwards
18
11
ƒƒ
Share of profit (loss) of associates
3
5
ƒƒ
Net charges to/reversals of provisions for tax risks
(8)
(4)
ƒƒ
Effect of CET business tax in France (see note 1.L)
(23)
(22)
ƒƒ
Other items
0
21
TOTAL EFFECTS ON TAX AT STANDARD FRENCH TAX RATE (G)
(27)
1
Tax at standard rate (H) = (F) + (G)
(143)
(121)
TAX AT REDUCED RATE (I)
-
-
Income tax expense (J) = (H) + (I)
(143)
(121)
Pre-tax operating profit taxed at standard rate
322
321
Income tax expense
(92)
(96)
GROUP EFFECTIVETAX RATE
28.5%
29.9%
* At December 31, 2013, the standard tax rate in France includes the 3.3% “contribution sociale de solidarité” tax and the 10.7% “contribution additionnelle” surtax,
both calculated on the 33.3% corporate income tax.
1...,217,218,219,220,221,222,223,224,225,226 228,229,230,231,232,233,234,235,236,237,...344
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