Income tax

The company and almost all its Dutch subsidiaries form a fiscal unity for corporate income tax purposes.

The table below shows the income taxes:

2012

2011

Current tax expense /gain

1

– 2

Movements in deferred taxes

49

76

Income tax

50

74

The table below shows the current tax expense:

2012

2011

Profit before income tax

310

310

Participation exemption

– 63

– 7

Non tax-deductible expenses

6

8

Depreciation at non-statutory rates

– 149

– 387

Addition to provisions treated differently for tax purposes

12

Taxable profit

116

– 76

Carry forward of losses

– 113

66

Taxable amount

3

– 10

Nominal tax rate

25.0%

25.0%

Current tax expense/gain

1

– 2

Losses available for relief can be carried forward until 2021.

The table below shows the effective tax burden expressed as a percentage of the profit before income tax:

2012

2011

Nominal tax rate

25.0%

25.0%

Effect of:

- Participation exemption

–5.1%

–0.6%

- Non tax-deductible expenses

0.2%

0.7%

- Tax incentives (Energy Investment Allowance)

–1.4%

–1.4%

- Other

–2.6%

0.3%

Effective tax burden

16.1%

24.0%