Annual Report 2006 – Financial Section - Quilvest

Notes to the Consolidated Financial Statements (continued)
11.5) Reconciliation between applicable and effective tax rate for the year 2006 :
This table reconciles the effective tax amounts presented in the consolidated income statement with the amount theoratically
calculated with local applicable tax rates.
Profit before tax 7,403
Applicable local tax rates 25 - 33.3%
Expected income tax expense 2,011
Current income taxes relating to prior periods 355
Effects that increase tax expense :
Tax effects of non-deductible expenses 1,418
Increase/decrease in valuation adjustments on deferred tax assets 800
Other 40
Total 2,258
Effects that decrease tax expense :
Tax effects of non-taxable income (454)
Use of unrecognized tax losses carried forward (138)
Fiscal integration (1,471)
Total (2,063)
Tax Expense in the income statement 2,561
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