30. Taxation on operating result

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Amounts in thousands of EUR

2011

2010

 

 

 

Taxation to be paid

5,296

3,185

Deferred taxation

256

84

 

 

 

 

 

 

 

5,552

3,269

 

 

 

The connection between the statutory and the effective taxation rate is as follows:

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Amounts in thousands of EUR

2011

2010

 

 

 

Result before taxation

22,876

14,778

Statutory tax rate

25.0%

25.5%

 

 

 

Statutory tax amount

5,719

3,768

Difference arising from other tax rates abroad,
exemptions and non-deductible items

36

–554

Restatement of deferred taxation items as the result of amended tax rates

–203

55

 

 

 

 

 

 

Effective tax amount

5,552

3,269

 

 

 

Effective tax rate

24.3%

22.1%

 

 

 

Fiscal entity

Triodos Bank, as a parent company, forms a tax entity for turnover tax and corporate income tax purposes with Triodos Assurantiën, Triodos Cultuurbank, Triodos Investment Management, Kantoor Buitenzorg, Kantoor Nieuweroord and Triodos Nieuwbouw as subsidiaries. The method chosen for the setting-off of taxation between Triodos Bank and the subsidiaries is that of proceeding as if the legal entities were independently liable to pay tax. In fact, the legal entities are jointly and severally liable for the tax liabilities of the companies belonging to the tax entity.