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CONSOLIDATED FINANCIAL STATEMENTS
69
LISI 2015 FINANCIAL REPORT
2.7.8.2 Proof of tax
(in €'000)
12/31/2015
%
Net earnings
81.9
Share of income (loss) of associates
0.1
Recorded income tax (income tax+income tax credit+deferred tax+CVAE)
42.7
Profit (loss) before income tax
124.7
Parent company standard rate
36.10%
Theoretic income tax/rate at 36.10%
45.03
105.36%
Difference
Share of non-deductible expenses
1.69
3.9%
Delta central rate/local rates
(2.41)
(5.6%)
Tax credits
(0.05)
(0.1%)
Activities not subject to taxation
(1.21)
(2.8%)
Elimination of dual taxation of dividends
0.00
0.0%
Income from prior periods
1.85
4.3%
Unused tax losses
0.37
0.9%
Tax loss carryforwards unrecognized in N-1
(1.53)
(3.6%)
Change in future tax rates
(0.16)
(0.4%)
Tax consolidation France
(1.33)
(3.1%)
Foreign tax consolidation
(0.08)
(0.2%)
Macron Law increased depreciation and amortization
(0.19)
(0.4%)
CIR
(0.93)
(2.2%)
CICE
(3.42)
(8.0%)
CVAE (Tax on companies’ added value)
4.61
10.8%
3% tax on LISI S.A. dividends
0.58
1.4%
Permanent differences
(0.28)
(0.7%)
Other
0.18
0.4%
Income tax recorded to the income statement (incl. CVAE)
42.7
99.9%
Effective tax rate (tax expense in the income statement as a ratio of pre-tax income)
34.25%
The tax charge, calculated on the basis of the corporation tax
as a percentage of the net income before taxes, reflects an
effective average rate of tax of 34.2%, slightly down compared
with 2014 (34.4%).
2.7.8.3 Tax rates applied by LISI Group companies
2015
2014
Germany
30.00% 30.00%
England
23.00% 23.00%
Belgium
34.00% 34.00%
Canada
26.90% 26.90%
Spain
30.00% 30.00%
USA*
40.00% 40.00%
France
36.10% 36.10%
Czech Republic
19.00% 19.00%
China
25.00% 25.00%
* Including local taxes.