2003 2002
Notes to the Consolidated Profit and Loss Account
Results of non-consolidated participating
interests
Share in net result of participating interests
carried at net asset value 13 15
Dividends received from participating interests
carried at cost 17 33
Book profit on sale of 15% interest in Quilmes 71 -
101 48
Interest
Interest paid -180 -146
Interest received 40 37
- 140 - 109
Taxation
Taxation - 319 - 364
The taxation amounts to 29.5% (2002: 31.0%) of the profit
before tax, excluding the results of non-consoiidated
participating interests.
The main components of the taxation charge are:
Profit before taxation excluding the results
of non-consolidated participating interests 1,082 1,173
Taxation charge at the tax rate prevailing in
the Netherlands 34.5% 373 34.5% 405
Effect of tax rates outside the Netherlands -3.8% -41 -0.9% -11
Non-allowable expenses 3.3% 36 1.7% 20
Utilisation of tax losses carried forward -1.6% -17 -1.2% -14
Tax losses not recognised 0.9% 10 -0.1% -1
Overprovided in prior years -1.6% -18 -0.8% -9
Tax incentives and other differences -2.2% -24 -2.2% -26
Effective tax burden 29.5% 319 31.0% 364
HEINEKEN N.V. ANNUAL REPORT 2003
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