Unilever 2005 Annual Report Download - page 98
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Financial Statements
Unilever Annual Report and Accounts 2005 95
7 Taxation
€ million € million
Tax charge in income statement 2005 2004
Current tax
Current year (1 227) (1 625)
Over/(under) provided in prior years 107 324
(1 120) (1 301)
Deferred tax
Origination and reversal of temporary differences (136) 457
Changes in tax rates 234
Utilisation of losses brought forward 5–
(129) 491
(1 249) (810)
United Kingdom Corporation Tax at 30.0% (754) (232)
Less double tax relief 619 132
United Kingdom taxes (135) (100)
Non-United Kingdom taxes (1 114) (710)
(1 249) (810)
Europe is Unilever’s domestic tax base. The reconciliation between the computed weighted average rate of income tax expense, which is
generally applicable to Unilever’s European companies, and the actual rate of taxation charged is as follows:
%%
Reconciliation of effective tax rate 2005 2004
Computed rate of tax(a) 31 32
Differences due to:
Other rates applicable to non-European countries –1
Incentive tax credits (4) (5)
Withholding tax on dividends 22
Adjustments to previous years (3) (9)
Expenses not deductible for tax purposes 2–
Utilisation of previously unrecognised tax losses (1) –
Other (1) 1
Effective tax rate 26 22
(a) The computed tax rate used is the average of the standard rate of tax applicable in the European countries in which Unilever operates,
weighted by the amount of profit before taxation generated in each of those countries.
Notes to the consolidated accounts
Unilever Group