Unilever 2007 Annual Report Download - page 85
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Unilever Annual Report and Accounts 2007 83
Financial statements continued
Notes to the consolidated accounts Unilever Group
6 Taxation
€ million € million € million
Tax charge in income statement 2007 2006 2005
Current tax
Current year (1 118) (1 171) (1 172)
Over/(under) provided in prior years(a) 226 206 107
(892) (965) (1 065)
Deferred tax
Origination and reversal of temporary differences (261) (171) (123)
Changes in tax rates 21 (15) 2
Utilisation of unrecognised losses brought forward 455
(236) (181) (116)
(1 128) (1 146) (1 181)
(a) Provisions have been released following the favourable settlement of prior year tax audits for amounts provided for tax in prior years in a
number of countries, including the Netherlands, the UK and the US, 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’s European companies, and the actual rate of taxation charged is as follows:
%%%
Reconciliation of effective tax rate 2007 2006 2005
Computed rate of tax(b) 27 30 31
Differences due to:
Other rates applicable to non-European countries 21–
Incentive tax credits (6) (7) (5)
Withholding tax on dividends 212
Adjustments to previous years (5) (4) (2)
Expenses not deductible for tax purposes 222
Utilisation of previously unrecognised tax losses ––(1)
Other –1(1)
Effective tax rate 22 24 26
(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 profit before taxation generated in each of those countries.