Ubisoft 2007 Annual Report Download - page 87

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CONSOLIDATED FINANCIAL STATEMENTS AS OF MARCH 31, 2008
83
2
Tax breakdown:
Adjustments made during the fiscal year for tax due from previous years and recognized in equity:
Following the tax adjustments for previous years, the amount recognized directly in equity was (€17 thousand).
(1) Capital gain following the sale of 4,189,198 shares during the first half of fiscal year 2007-2008.
03.31.08
Consolidated earnings, excluding goodwill, tax, share of profit of associates and excluding earnings of discontinued operations 143,946
theoretical tax (34.43%) 49,561
Adjustment of deferred tax from previous fiscal years:
Variance between the accounting records and tax returns 587
Impact of permanent differences between corporate earnings and consolidated earnings:
IFRS2 wage adjustment 2,565
Cancellation of provisions for impairment of goodwill 122
Miscellaneous add-backs/deductions (1,514)
Taxation of foreign companies at different rates (883)
Other restatements :
Different tax rates 824
Lost carry-forwards (355)
Canadian tax audit 2,053
Taxes not dependant on income (4,018)
Miscellaneous 16
Total income tax 48,957
Actual tax rate 34%
Note 30 Earnings of discontinued operations
Earnings of discontinued operations break down as follows:
03.31.08
Earnings from the Gameloft associate until date stock disposed of to Calyon 835
Dilution (295)
Disposal of Gameloft stock(1) 14,568
Tax on stock disposal (281)
Total 14,827