-
-
-
-
Report of the Report of the
Contents Overview Executive Board Supervisory Board
Financial
statements
Other information
13. Income tax expense
Reconciliation of the effective tax rate
In millions of EUR
2013
2012*
Profit before income tax
2,107
3,589
Share of net profit of associates and joint ventures and impairments thereof
(146)
(213)
Profit before income tax excluding share of profit of associates
and joint ventures (including impairments thereof)
1,961
3,376
*Restated for the revised IAS 19.
2013
2012*
Income tax using the Company's domestic tax rate
25.0
490
25.0
845
Effect of tax rates in foreign jurisdictions
41
79
1.9
63
Effect of non-deductible expenses
46
90
1.9
64
Effect of tax incentives and exempt income
(8.3)
(162)
(14.0)
(472)
Recognition of previously unrecognised temporary differences
(0.8)
(28)
Utilisation or recognition of previously unrecognised tax losses
(0.6)
(11)
(0.5)
(17)
Unrecognised current year tax losses
1.3
26
0.8
25
Effect of changes in tax rate
(1.6)
(32)
0.1
4
Withholding taxes
2.1
42
0.8
27
Undercover) provided in prior years
(0.1)
(2)
0.2
6
Other reconciling items
(0.1)
(2)
26.5
520
15.3
515
*Restated for the revised IAS 19.
The higher reported tax rate in 2013 of 26.5 per cent (2012:15.3 percent) can be mainly explained by the fact that in 2012 the
revaluation of HEINEKEN's PHEI in APIPL/APB was tax exempt.
Income tax recognised in other comprehensive income
In millions of EUR
Note
2013
2012*
Changes in fair value
10
(24)
Changes in hedging reserve
(2)
(18)
Changes in translation reserve
(43)
(22)
Other
(67)
113
24
(102)
49
"Restated for the revised IAS 19.
Heineken N.V. Annual Report 2013
88
