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FINANCIAL STATEMENTS
6
CONSOLIDATED FINANCIAL STATEMENTS
NOTE 12
INCOME TAX
12.1 Income tax recognised during the year
In millions of euros
2016
2015
Current tax
(13.2)
(12.3)
Deferred taxes
(4.5)
(0.8)
Total recognised in the income statement
(17.7)
(13.1)
Tax payable on treasury shares
(0.2)
0.5
Tax payable on Odirnane buybacks
10.0
–
Tax recognised in other comprehensive income
0.8
(1.3)
Total recognised directly in equity
10.6
(0.8)
Current tax
(3.4)
(11.8)
Deferred taxes
(3.7)
(2.1)
Total for the year
(7.1)
(13.9)
12.2 Tax proof
The table below reconciles the Group’s actual income tax expense to the theoretical income tax expense based on the tax rate applicable to
the profit of consolidated companies:
In millions of euros
2016
2015
Profit before tax from continuing operations (excluding share of profit of equity-accounted investees)
48.4
40.0
Theoretical income tax rate
34.43%
38.00%
Theoretical income tax expense
(16.7)
(15.2)
Permanent differences
6.5
6.4
Differences arising from applying different taxation rates
2.2
2.1
Other taxes
(7.6)
(6.0)
Income or expense relating to changes in tax rates or the imposition of new taxes
(1.1)
(0.9)
Adjustments recognised during the year for prior years
(0.9)
0.5
Benefits arising from tax losses and temporary differences not recognised in prior years
0.2
0.5
Impact of tax losses and temporary differences not used during the year
(0.3)
(0.5)
Total adjustments
(1.0)
2.1
Actual income tax expense
(17.7)
(13.1)
Profit before tax from continuing operations (excluding share of profit of equity-accounted investees)
48.4
40.0
Goodwill impairment
7.0
7.0
Profit before tax from continuing operations
(excluding share of profit of equity-accounted investees and goodwill impairment)
55.4
47.0
Effective tax rate excluding impact of goodwill impairment
31.95%
27.87%
The amount shown under “Other taxes” mainly comprises the Corporate Value-Added Contribution (CVAE) for French subsidiaries.
ASSYSTEM
REGISTRATION DOCUMENT
2016
117