Unilever 2006 Annual Report Download - page 88
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Unilever Annual Report and Accounts 2006 85
Financial Statements (continued)
Notes to the consolidated accounts Unilever Group
6Taxation
€million €million € million
Tax charge in income statement 2006 2005 2004
Current tax
Current year (1 171) (1 172) (1 534)
Over/(under) provided in prior years(a) 206 107 330
(965) (1 065) (1 204)
Deferred tax
Origination and reversal of temporary differences (171) (123) 445
Changes in tax rates (15) 234
Utilisation of unrecognised losses brought forward 55–
(181) (116) 479
(1 146) (1 181) (725)
(a) Provisions have been released for amounts over provided for tax in prior years in a number of countries, none of which is
individually material.
Europe is considered to be Unilever’s domestic tax base. The reconciliation between the computed weighted average rate of income tax
expense, which is generally applicable to Unilever’sEuropean companies, and the actual rate of taxation charged is as follows:
%% %
Reconciliation of effective tax rate 2006 2005 2004
Computed rate of tax(b) 30 31 32
Differences due to:
Other rates applicable to non-European countries 1–1
Incentive tax credits (7) (5) (5)
Withholding tax on dividends 122
Adjustments to previous years (4) (2) (10)
Expenses not deductible for tax purposes 22–
Utilisation of previously unrecognised tax losses –(1) –
Other 1(1) 1
Effective tax rate 24 26 21
(b) 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 profitbefore taxation generated in each of those countries.