Annual report 2005 - Sava dd

a n n u a l r e p o r t | 2 0 0 5
1 6 2 |
Comparison between the actual and calculated tax rate
Deferred tax, recognised directly in equity
A deferred tax liability due to the revaluation of
(SIT in thousands)
2005 2004
rate value rate value
Pre-tax profit in accordance with IFRSs 10,467,912 12,512,153
Income tax by applying the official rate 25.0% 2,616,978 25.0% 3,128,038
Tax rate effect in foreign operations 0.2% 24,470 0.0% -219
Tax non-deductible expenses 3.1% 322,774 2.0% 250,920
Tax free revenues -11.4% -1,198,204 -14.5% -1,819,123
Tax benefits not recognised in the income statement -4.5% -476,466 -4.7% -591,085
Effect by companies operating with a loss 2.0% 204,579 0.4% 54,939
Consolidation bookings -2.3% -241,792 -1.3% -162,766
Effective tax rate 12.0% 1,252,339 6.9% 860,704
available-for-sale securities to a fair value decreased a
fair value reserve.
(SIT in thousands)
2005 2004
Revaluation of available-for-sale securities -1,215,137 1,633,474