Experian 2009 Annual Report Download - page 106

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104 Experian Annual Report 2009
10. Tax expense (continued)
2009 2008
(Restated
Note 2)
US$m US$m
(ii) Reconciliation of the tax expense reported in the Group income statement to
the Benchmark tax charge
Group tax expense 84 91
Add: one-off corporation tax credit in respect of prior years 20 –
Add: tax relief on exceptional items 25 10
Add: tax relief on other non-GAAP measures 53 76
Tax expense on share of prot of associates 2 6
Tax on Benchmark PBT 184 183
The effective rate of tax based on Benchmark PBT of US$843m (2008: US$783m) and the associated tax charge of US$184m
(2008: US$183m), excluding the effect of a one-off corporation tax credit of US$20m (2008: US$nil) in respect of prior years,
is 21.8% (2008: 23.4% as restated (see note 2)). The one-off corporation tax credit in the year ended 31 March 2009 has been
excluded from the calculation of the effective rate of tax based on Benchmark PBT as it relates to arrangements involving
entities no longer part of the Group.
(c) Tax taken directly to equity
A tax credit of US$60m (2008: charge of US$16m) has been taken directly to equity, relating mainly to employee share incentive
plans, actuarial gains and losses on retirement benet assets and obligations and foreign exchange. This includes US$1m
(2008:US$nil) in respect of current tax and US$59m (2008: charge of US$16m) in respect of deferred tax.
(d) Factors that may affect future tax charges
In the foreseeable future, the Group’s tax charge will continue to be inuenced by the prole of prots earned in the different
countries in which the Group’s businesses operate and could be affected by changes in tax law.
Notes to the Group nancial statements continued
Financial statements