ANNUAL REPORT 2007 | 2008 - Gimv

14. TAXES (IN EUR 000)
2007-2008 2006-2007
CONSOLIDATED INCOME STATEMENT
Current income tax 8 416 5 217
Current income tax charge 8 416 5 234
Adjustments in respect of current income tax of previous periods - -17
Deferred income tax -282
Relating to origination and reversal of temporary differences -282 -404
Relating to reduction in tax rates - -
Income tax expense reported in consolidated income statement 8 134 4 813
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
Current income tax - -
Deferred income tax - -
Income tax expense / benefi t reported in equity - -
RECONCILIATION OF INCOME TAX EXPENSE APPLICABLE TO RESULT
BEFORE TAX AT THE STATUTORY INCOME TAX RATE TO INCOME TAX
EXPENSE AT THE GROUP’S EFFECTIVE INCOME TAX RATE
Result before tax 193 573 254 194
Taxes based on local statutory income tax rate 65 795 91 537
Higher (lower) income tax rates of other countries 1 309 -2 524
Adjustments in respect of current income tax of previous periods 6 -13
Expenses non-deductible for tax purposes 3 583 -4 467
Tax exempt profi ts -58 156 -73 323
Non-deductible amortization of goodwill 563 -
Impact of special tax status -416 -8 534
Non-taxable dividends from investments in non-group companies -4 591 -7 282
Non-recorded deferred income tax assets - 9 717
Other 40 -298
Taxes at effective income tax rate 8 134 4 813
Effective income tax rate 4.2% -1.9%
DEFERRED INCOME TAX RELATES TO THE FOLLOWING:
Deferred income tax liabilities
Accelerated depreciation for tax purposes 3 256 3 563
Remeasurement of fi nancial instruments to fair value 9 24
Deferred taxation on sales of property, plant and equipment 947 1 202
Other 1 359 1 594
Gross deferred income tax liabilities
Deferred income tax assets
5 571 6 383
Remeasurement of fi nancial instruments to fair value - -
Post-employment benefi ts - -
Tax losses carried forward 175 198
Other 198 76
Gross deferred income tax assets 373 274
Net deferred income tax liabilities 5 571 6 383
Net deferred income tax assets 373 274
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