Notes to the Consolidated Financial Statements continued
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Reportofthe Reportofthe Financial Other
Contents Overview Executive Board Supervisory Board Statements Information
2015
Income tax using the Company's domestic tax rate
25.0
667
25.0
573
Effect of tax rates in foreign jurisdictions
2.1
57
3.8
87
Effect of non-deductible expenses
4.2
111
2.7
61
Effect of tax incentives and exempt income
(7.7)
(205)
(4.0)
(93)
Recognition of previously unrecognised temporary differences
(0.1)
(3)
(0.2)
(5)
Utilisation or recognition of previously unrecognised tax losses
(0.2)
(4)
(0.1)
(3)
Unrecognised current year tax losses
0.8
21
0.7
17
Effect of changes in tax rate
0.8
20
0.4
10
Withholding taxes
1.9
50
2.6
60
Undercover) provided in prior years
(1.3)
(36)
0.3
8
Other reconciling items
0.7
19
0.7
17
26.2
697
31.9
732
The effective tax rate 2015 includes the gain on sale of EMPAQUE, which was tax exempt, while the effective tax rate 2014 included one-off tax items with
an overall negative tax impact. The line 'effect of non-deductible expenses' includes the impact of impairments for which no tax benefit could be
recognised (refer to note 14).
Income tax recognised in other comprehensive income
In millions of EUR
Note
2015
Changes in fair value reserve
(3)
3
Changes in hedging reserve
14
11
Changes in translation reserve
77
108
Changes as a result of actuarial gains and losses
(33)
96
24
55
218
14. Property, plant and equipment
In millions of EUR Note
Land and
buildings
Plant and
equipment
Other
fixed assets
Under
construction
Total
Cost
Balance as at 1 January 2014
4,934
6,905
4,616
705
17,160
Changes in consolidation
9
2
1
12
Purchases
83
279
471
686
1,519
Transfer of completed projects under construction
91
383
149
(623)
Transfer (to)/from assets classified as held for sale
(72)
(175)
7
(4)
(244)
Disposals
(93)
(90)
(234)
(1)
(418)
Effect of movements in exchange rates
37
I
41
30
109
Balance as at 31 December 2014
4,989
7,305
5,051
793
18,138
Balance as at 1 January 2015
4,989
7,305
5,051
793
18,138
Changes in consolidation
256
280
132
22
690
Purchases
84
99
428
1,029
1,640
Transfer of completed projects under construction
240
607
206
(1,053)
Transfer (to)/from assets classified as held for sale
(50)
(1)
(8)
(59)
Disposals
(54)
(126)
(354)
(3)
(537)
Effect of movements in exchange rates
15
(54)
(47)
(86)
Balance as at 31 December 2015
5,480
8,110
5,408
788
19,786
93 Heineken N.V. Annual Report 2015