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30. Taxation on operating result

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Amounts in thousands of EUR

2012

2011

 

 

 

Taxation to be paid

9,008

5,296

Deferred taxation

–847

256

 

 

 

 

 

 

 

8,161

5,552

 

 

 

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

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Amounts in thousands of EUR

2012

2011

 

 

 

Result before taxation

30,787

22,876

Statutory tax rate

25.0%

25.0%

 

 

 

Statutory tax amount

7,697

5,719

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

474

36

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

–10

–203

 

 

 

 

 

 

Effective tax amount

8,161

5,552

 

 

 

Effective tax rate

26.5%

24.3%

 

 

 

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 Finance, 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.