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2.6.8.2 - Tax proof
Tax proof at 12/31/2018
€ million
%
Earnings attributable to the Group
92.1
Minority interests
(4.7)
Recorded income tax (income tax+income tax credit+deferred tax+CVAE)
33.8
Profit (loss) before income tax
130.6
Parent company standard rate
34.43%
Theoretical income tax/rate at 34.43%
44.98
132.92%
Difference
Share of non-deductible expenses
1.21
3.6%
Withholding tax on foreign dividends
1.71
5.0%
Delta central rate/local rates
(7.94)
(23.5%)
Tax credits
(0.01)
0.0%
Activities not subject to taxation
(5.69)
(16.8%)
Taxable share of foreign dividends
1.32
3.9%
Taxes from prior periods
0.71
2.1%
Unused tax losses
1.80
5.3%
Tax consolidation France
(0.91)
(2.7%)
Foreign tax consolidation
2.76
8.2%
Transition Tax US
(4.06)
(12.0%)
Macron Law increased depreciation and amortization
(2.07)
(6.1%)
CIR
(1.67)
(4.9%)
Tax Credit on wages
(3.50)
(10.4%)
CVAE (Tax on companies’ added value)
4.88
14.4%
Permanent differences
0.30
0.9%
Other
0.02
0.1%
Income tax recorded to the income statement (Incl. CVAE)
33.8
100.0%
Effective tax rate (tax expense in the income statement as a ratio of pre-tax income)
25.89%
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 25.9%, stable compared with 2017 (26.8%).
2.6.8.3 - Tax rates applied by LISI Group companies
2018
2017
Germany
30.00%
30.00%
England
17.00%
19.00%
Canada
26.90%
26.90%
Spain
25.00%
30.00%
USA
21.00%
35.00%
France *
34.43%
39.32%
Czech Republic
19.00%
19.00%
China
25.00%
25.00%
* Including the exceptional contribution on corporation tax of 15% in 2017.
66 LISI 2018 FINANCIAL REPORT CONSOLIDATED FINANCIAL STATEMENTS 3