Airbus 2015 Annual Report Download - page 277

AIRBUS GROUP FINANCIAL STATEMENTS 2015 l 95 l
Notestothe IFRSCompanyFinancialStatements
4.
6. Income Tax
The Company is tax registered in the Netherlands. The Company
is heading a fiscal unity, which also includes AirbusGroup
Finance B.V., Airbus DS Holdings B.V. and Airbus Defence and
Space Netherlands B.V. and therefore the Company is severally
and jointly liable for income tax liabilities of the fiscal unity as
a whole.
Income taxes — The tax expense for the year comprises
deferred tax. Tax is recognised in the statement of income,
except to the extent that it relates to items recognised directly
in other comprehensive income.
The amount of income tax included in the Statement of Income
is determined in accordance with the rules established by the
tax authorities in the Netherlands, based on which income taxes
are payable or recoverable.
Deferred tax assets and/or liabilities, arising from temporary
differences between the carrying amounts of assets and
liabilities and the tax base of assets and liabilities, are calculated
using the substantively enacted tax rates expected to apply
when they are realised or settled. Deferred tax assets are
recognised if it is probable that they will be realised.
The expense for income taxes is comprised of the following:
(In € million) 2015 2014
Current tax expense 00
Deferred tax (expense) income (11) 44
Total (11) 44
The following table shows reconciliation from the theoretical income tax expense using the Dutch corporate tax rate to the reported
tax (expense) income:
(In € million) 2015 2014
579
25.0%
(145)
179
11
(1)
Profit before income taxes 65
* Corporate income tax rate 25.0%
Expected expense for income taxes (16)
Non-taxable income from investments 1
Income from other companies within the fiscal unity 5
Other (1)
Reported tax (expense) income (11) 44
The first tranche of tax loss carry forwards (€ 20million) will expire by the end of 2023.
Deferred income taxes as of 31December 2015 are related to the following assets and liabilities:
1January 2015 Other movements
Movement
through
income
statement 31December 2015
(In € million)
Deferred
tax
assets
Deferred
tax
liabilities OCI Others
Deferred
tax benefit
(expense)
Deferred
tax
assets
Deferred
tax
liabilities
Securities 0(31) 10 0 0 0(21)
Financial instruments 27 0 0 0 (30) 0 (3)
Net operating loss and tax loss carry
forwards 23 0 0 (3) 19 39 0
Deferred tax assets(liabilities)
before offsetting 50 (31) 10 (3) (11) 39 (24)
Set-off (31) 31 0 0 0 (24) 24
Net deferred tax assets(liabilities) 19 010 (3) (11) 15 0
Financial Statements 2015
11 22 33 44 55
QRegistration Document 2015
Annual Report 2015 Financial Statements 2015
Q