APC 2014 Annual Report Download - page 204

5CONSOLIDATED FINANCIAL STATEMENTS AT DECEMBER31,2014
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Income tax expense Note10
Whenever possible, Group entities file consolidated tax returns. Schneider ElectricSE has chosen this option for the French subsidiaries it
controls directly or indirectly through Schneider Electric IndustriesSAS.
10.1 – Analysis of income tax expense
Full year 2014 Full year 2013*
Current taxes
France (90) (169)
International (601) (562)
Total (691) (731)
Deferred taxes
France (38) 108
International 178 (28)
Total 140 80
INCOME TAX (EXPENSE)/BENEFIT (551) (651)
The 2013 figures were restated from discontinued operations and change in consolidation method disclosed in note1.*
10.2 – Tax proof
Full year 2014 Full year 2013*
Profit attributable to owners of the parent 1,941 1,888
Income of discontinued operations, net of income tax 169 61
Income tax (expense)/benefit (551) (651)
Non-controlling interests (120) (97)
Share of profit of associates 14 20
Profit before tax 2,429 2,555
Statutory tax rate 34.43% 34.43%
Income tax expense calculated at the statutory rate
Reconciling items: (836) (880)
Difference between French and foreign tax rates 206 168
Tax credits and other tax reductions 132 214
Impact of tax losses 70 (35)
Other permanent differences (122) (118)
Income tax (expense)/benefit (551) (651)
EFFECTIVE TAX RATE 22.7% 25.5%
The 2013 figures were restated from discontinued operations and change in consolidation method disclosed in note1.*
202 2014 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC