Unilever 2003 Annual Report Download - page 90
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Unilever Annual Report & Accounts and Form 20-F 2003 87
Notes to the consolidated accounts
Unilever Group
6 Taxation on profit on ordinary activities
€ million € million € million
2003 2002 2001
Restated Restated
Parent and group companies(a)(b) (1 529) (1 582) (1 494)
Joint ventures (5) (19) (25)
Associates 7(4) –
Total (1 527) (1 605) (1 519)
Of which:
Adjustments to previous years
United Kingdom taxes 46 11 (3)
Other taxes 167 245 61
(a) United Kingdom Corporation Tax at 30.0% (346) (161) (371)
less: double tax relief 191 66 140
United Kingdom taxes (155) (95) (231)
plus: non-United Kingdom taxes (1 374) (1 487) (1 263)
(1 529) (1 582) (1 494)
(b) Of which, tax on exceptional items amounted to 94 180 228
Deferred taxation has been included on a full provision basis for:
Accelerated depreciation 18 50 87
Other (238) 175 (179)
(220) 225 (92)
Of which:
United Kingdom deferred taxes 23 31 20
Non-United Kingdom deferred taxes (243) 194 (112)
Europe is Unilever’s domestic tax base. The reconciliation between the computed rate of income tax expense which is generally applicable to
Unilever’s European companies and the actual rate of taxation charged, expressed in percentages of the profit of ordinary activities before
taxation, is as follows:
%%%
2003 2002 2001
Restated Restated
Computed rate of tax (see below) 32 34 34
Differences due to:
Other rates applicable to non-European countries 13 (1)
Incentive tax credits (2) (3) (3)
Withholding tax on dividends 123
Adjustments to previous years (5) (6) (2)
Non-deductible goodwill amortisation 7912
Other –11
Actual rate of tax (current and deferred) 34 40 44
Actual rate of deferred tax for:
Accelerated depreciation –13
Other (5) 4 (5)
Actual rate of current tax 29 45 42
In the above reconciliation, the computed rate of tax is the average of the standard rate of tax applicable in the European countries in which
Unilever operates, weighted by the amount of profit on ordinary activities before taxation generated in each of those countries.