The corporation tax expense on the profit before taxation differs from the tax charge based on the average tax rate. Further details are given in the table below:
|
( x EUR 1,000 ) |
2008 |
2007 |
|
Profit before taxation |
69,913 |
72,214 |
|
Deducted: share in the result of participating interests |
-/- 902 |
-/- 4,124 |
|
69,011 |
68,090 |
|
|
|
|
|
|
Tax expense based on the average rate of taxation |
17,709 |
17,200 |
|
Non-valued losses |
61 |
34 |
|
Non-deductible items |
404 |
- |
|
Corporation tax expense in previous years |
-/- 400 |
- |
|
Non-taxable profit |
-/- 43 |
-/- 78 |
|
Effect of rate change on value of deferred tax assets |
- |
119 |
|
17,731 |
17,275 |
|
|
|
|
On the basis of the actual rates of taxation payable, the tax burden on the result for 2008 proved to be 25.7% (2007: 25.5%).
The breakdown of the tax burden is as follows:
|
( x EUR 1,000 ) |
2008 |
2007 |
|
Deferred tax |
-/- 4,665 |
-/- 1,662 |
|
Tax payable |
22,396 |
18,937 |
|
17,731 |
17,275 |
|
|
|
|