MAROC_TELECOM_REGISTRATION_DOCUMENT_2017

4

FINANCIAL REPORT Statutory financial statements

B12 — RECONCILIATION OF NET INCOME TO TAXABLE INCOME

AT 12/31/2017 (IN MAD THOUSAND)

DETERMINATION OF INCOME

Amount

Amount

I- NET INCOME Net profit

5,699,461

Net loss II- TAX ADD-BACKS

2,291,346 2,075,001 1,965,575

1. Ordinary

Income tax 2017

Amortization in excess of MADb300,000 POP Paris expenses (IAM branch) Unrealized foreign exchange gains 2017 Gifts exceeding MADb100 per unit

701

1,415

106,309

1

Donations in cash or kind

1,000

Provisions

0

2. Extraordinary

216,345 41,390 172,952

Amortization

Provisions

Tax penalties and fines

800

Contribution for the support of social solidarity Other provisions for contingencies and losses

0

1,202

III- TAX DEDUCTIONS

1,226,009 1,046,803

1. Ordinary

Unrealized foreign exchange gains 2016 POP Paris income (IAM branch) Revenues from equity investments

114,123

0

932,680 179,207

2. Extraordinary

Allowance on net capital gains from disposal

0

Provisionsb& amortization

179,207

Reversal of provisions for impairment of investments

0

TOTAL

2,291,346

1,226,009

IV- GROSS TAXABLE INCOME Gross profit Gross taxable loss V- LOSS CARRIED FORWARD

6,764,797

0

VI- TAXABLE INCOME Net taxable profit

6,764,797

Net taxable loss Reducing the corporate tax rate to 17.50% for the export turnover

131,512

Corporate tax

1,965,575

186

MAROC TELECOM ____ 2017 Registration Document