Read the Registration Document - Guerbet

Tax income or expense recorded in the income statement breaks down as follows:2012 2011Group tax income / (expense) (1,738) 364Tax charge from consolidated subsidiaries 288 1,662Tax savings passed back to consolidated subsidiaries (323) (122)Other tax charges 5 (126)Tax income /(expense) of the company heading the tax group (1,768) 1,778Tax income or expense for the company heading the tax group breaks down as follows:2012 2011Income tax on current income 1 (5,093) (608)Income tax on exceptional profit (loss) 3,326 2,386Other tax charges - -Tax income /(expense) of the company heading the tax group (1,768) 1,778Disallowed deductions provided for under article 39-4 of the French general tax codeFor 2012, disallowed deductions incurred by Guerbet concerned €191,000 for the depreciation of privatevehicles.Note 20 – Deferred taxesGuerbet deferred tax has been calculated on the basis of French tax group starting in 1988. Inconsequence, taxes paid in advance resulting from the difference between income and expenses recordedand their inclusion in tax earnings, and taxes payable on items under shareholders' equity (regulatedprovisions) have been determined for all companies included in the tax group.2012 2011Net deferred tax resulting from timing differences (tax assets) 8,287 7,587Deferred tax on shareholders' equity items (tax liabilities) 13,484 11,510These deferred taxes were calculated at the rate of 33 1/3% increased by the French social contribution taxplus the exceptional contribution applicable for those years provided for by statute.Note 21 – Impact of the application of tax rules on income of the periodTo benefit from certain tax provisions, the company is required to record certain items under income asnon-recurring items that do not constitute book expenses or income.2012 2011Pre-tax income 8,450 (1,478)Net allowances or reversals of regulated provisions and special tax depreciation charges (4,950) (6,164)Adjusted pre-tax income 13,400 4,6861 Including a research tax credit of €3.05 million129