Ubisoft 2005 Annual Report Download - page 84
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Research tax credit
The companies Ubisoft World Studios SAS, Ubisoft Pictures
SARL, Ubisoft Design SARL, Ubisoft Computing SARL,
Ubisoft Simulations SAS, Ubisoft Productions France SARL
and Tiwak SAS booked a research tax credit for the year of
€2,464 thousand. Reimbursement takes place over three
years.
- Deferred tax
- Tax proof
- Adjustments entered during the fiscal year for tax due in previous years and entered as equity
Following the change on the corporate tax rate in France from 33.83% to 33.33% and tax corrections from previous years,
the amount affecting equity is -€174 thousand.
03.31.06 03.31.05
Deferred tax assets
(see breakdown in Note 6) 42,321 28,606
Deferred tax liabilities
(see breakdown in Note 16) 22,854 17,267
03.31.06
Consolidated earnings excluding tax and results of associates -10,501
Theoretical tax (33.33%) -3,500
Adjustments of deferred taxes from previous fiscal years
Correction of deferred taxes for Ubisoft INC -516
Reimbursement of Ubisoft GmbH tax -304
Effect of permanent differences between company results and the consolidated result:
Cancellation of goodwill amortization -534
IFRS2 wages complement 897
Ubisoft Divertissements Inc tax additions 331
Ubisoft SpA tax additions 174
Ubisoft GmbH tax additions 131
Taxes independent of income
Tax on Ubisoft Entertainment SA long-term capital gains 2,383
Taxation of foreign companies at different rates 421
Fiscal integration impact
France 110
USA tax credit -453
Research tax credit -2,464
Total income tax -3,324
Actual tax rate 31.65%