The components of Income tax expenses for the year ended 31 December are:
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|
2007 |
2006 |
2005 |
|
|
|
|
Current tax expenses for the current period |
625 |
820 |
1,178 |
Adjustments recognised in the period for current tax of prior periods |
(107) |
(148) |
36 |
Previously unrecognised tax losses, tax credits and temporary differences increasing (reducing) current tax expenses |
16 |
(15) |
(9) |
Total current tax expenses |
534 |
657 |
1,205 |
|
|
|
|
Deferred tax arising from the current period |
(827) |
283 |
(99) |
Impact of changes in tax rates on deferred taxes |
|
54 |
20 |
Deferred tax arising from the write-down or reversal of a write-down of a deferred tax asset |
55 |
22 |
33 |
Previously unrecognised tax losses, tax credits and temporary differences reducing deferred tax expense |
4 |
13 |
5 |
Total deferred tax expenses |
(768) |
372 |
(41) |
|
|
|
|
Tax expense (income) relating to changes in accounting policies and errors included in profit and loss |
|
1 |
|
Total income tax expenses |
(235) |
1,030 |
1,164 |
Below is a reconciliation of the expected to the actual income tax expense. The expected income tax expense was determined by relating the profit before taxation to the weighted average statutory income tax rates in Belgium and the Netherlands. This rate was 29.7% in 2007 (2006: 31.8%; 2005: 32.7%) and changed over the years because of the decrease of the statutory income tax rate in the Netherlands.
| Download XLS |
|
2007 |
2006 |
2005 |
|
|
|
|
Profit before taxation |
2,826 |
5,382 |
5,090 |
Applicable tax rate |
29.7% |
31.8% |
32.7% |
Expected income tax expense |
841 |
1,731 |
1,686 |
Increase (decrease) in taxes resulting from: |
|
|
|
Tax exempt income |
(846) |
(608) |
(629) |
Share in result of associates and joint ventures |
(108) |
(38) |
(64) |
Disallowed expenses |
221 |
39 |
32 |
Previously unrecognised tax losses and temporary differences |
80 |
128 |
(23) |
Write-down and reversal of write-down of deferred tax assets |
97 |
43 |
30 |
Impact of changes in tax rates on temporary differences |
|
54 |
17 |
Foreign tax rate differential |
(288) |
(78) |
13 |
Adjustments for current tax of prior years |
(107) |
(147) |
11 |
Other |
(125) |
(94) |
91 |
Actual income tax expenses |
(235) |
1,030 |
1,164 |
