APC 2009 Annual Report Download - page 136

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2009 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC134
CONSOLIDATED FINANCIAL STATEMENTS
5NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Note10
Income tax
Whenever possible, Group entities fi le consolidated tax returns. Schneider Electric SA fi les a consolidated tax return with its French subsidiaries
held directly or indirectly through Schneider Electric Industries SAS.
10.1 - Analysis of income tax expense for the year
2009 2008
Current taxes
France (13) 2
International (398) (569)
Total (411) (567)
Deferred taxes
France 153 53
International (35) (41)
Total 118 12
INCOME TAX (EXPENSE)/BENEFIT (293) (555)
10.2 - Tax proof
2009 2008
Profi t attributable to equity holders of the parent 852 1,682
Income tax (expense)/benefi t (293) (555)
Minority interests (42) (41)
Share of profi t of associates (21) 12
Profi t before tax 1,208 2,266
Statutory tax rate 34.43% 34.43%
Income tax expense calculated at the statutory rate (416) (780)
Reconciling items:
Difference between French and foreign tax rates 122 149
Tax credits and other tax reductions 89 131
Impact of tax losses (21) (6)
Other permenant differences (67) (49)
Income tax (expense)/benefi t (293) (555)
EFFECTIVE TAX RATE 24.3% 24.5%