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LISI 2016 FINANCIAL REPORT
2.6.8.2 Proof of tax
PROOF OF TAX AT 12/31/2016
In millions
of euros
%
Net earnings
106.6
Recorded income tax (income tax+income tax credit+deferred tax+CVAE)
54.2
Profit (loss) before income tax
160.8
Parent company standard rate
34.43%
Theoretic income tax/rate at 34.43%
55.37
102.17%
DIFFERENCE
Share of non-deductible expenses
1.12
2.1%
Delta central rate/local rates
(4.51)
(8.3%)
Tax credits
(0.12)
(0.2%)
Activities not subject to taxation
(2.62)
(4.8%)
Elimination of dual taxation of dividends
0.00
0.0%
Taxes from prior periods
0.57
1.1%
Unused tax losses
0.93
1.7%
Variable carry forward
1.47
2.7%
Tax consolidation France
(0.36)
(0.7%)
Foreign tax consolidation
(0.22)
(0.4%)
Macron Law increased depreciation and amortization
(0.98)
(1.8%)
CIR
(0.98)
(1.8%)
Credit
(3.35)
(6.2%)
CVAE (Tax on companies’ added value)
5.02
9.3%
3% tax on LISI SA dividends
0.62
1.1%
Permanent differences
1.82
3.4%
Other
0.46
0.8%
INCOME TAX RECORDED TO THE INCOME STATEMENT (INCL. CVAE)
54.2
100.0%
Effective tax rate (tax expense in the income statement as a ratio of pre-tax income)
33.72%
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 33.7%, slightly down compared with 2015 (34.2%).
2.6.8.3 Tax rates applied by LISI Group companies
2016
2015
Germany
30.00%
30.00%
England
20.00%
23.00%
Belgium
34.00%
34.00%
Canada
26.90%
26.90%
Spain
28.00%
30.00%
USA*
40.00%
40.00%
France
36.10%
36.10%
Czech Republic
19.00%
19.00%
China
25.00%
25.00%
* including state incomel taxes
CONSOLIDATED FINANCIAL STATEMENTS
3