NOTE B6 Underlying income taxes
- Index
- 1 NOTE B1 Net sales
- 2 NOTE B2 Underlying raw material & energy costs
- 3 NOTE B3 Underlying EBITDA
- 4 NOTE B4 Underlying depreciation & amortization
- 5 NOTE B5 Underlying net financial charges
- 6 NOTE B6 Underlying income taxes
- 7 NOTE B7 Underlying profit from discontinued operations
- 8 NOTE B8 CAPEX
- 9 NOTE B9 Free Cash Flow
- 10 NOTE B10 Net working capital
- 11 NOTE B11 Underlying net debt
- 12 NOTE B12 CFROI
- 13 NOTE B13 Research & Innovation
In € million |
|
FY 2017 |
FY 2016 |
|||
Profit for the period before taxes |
a |
1,133 |
939 |
|||
Earnings from associates & joint ventures |
b |
71 |
69 |
|||
Interests and realized foreign exchange gains (losses) on the RusVinyl joint venture |
c |
(24) |
(26) |
|||
Income taxes |
d |
(299) |
(272) |
|||
Tax rate |
e = -d/(a-b-c) |
27.5% |
30.3% |
Underlying income taxes were €(299) million, 10% higher than in 2016, though the underlying tax rate was significantly reduced from 30.3% to 27.5%. On an IFRS basis, the tax result is positive due to tax elements relating to prior periods, mainly €202 million recognition of deferred tax assets in France and €49 million net impact triggered by the US tax reform.