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31. Taxation on Operating Result

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in thousands of EUR

2015

2014

 

 

 

 

 

 

Taxation to be paid

14,045

11,561

Deferred taxation

–772

–1,360

 

 

 

 

 

 

 

13,273

10,201

 

 

 

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

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in thousands of EUR

2015

2014

 

 

 

 

 

 

Result before taxation

54,000

40,326

Statutory tax rate

25.0%

25.0%

 

 

 

Statutory tax amount

13,500

10,082

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

–222

111

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

–5

8

 

 

 

 

 

 

Effective tax amount

13,273

10,201

 

 

 

Effective tax rate

24.6%

25.3%

 

 

 

Fiscal unity

Triodos Bank, as a parent company, forms a tax unity for value added tax and corporate income tax purposes with Triodos Finance, Triodos Investment Management, Triodos Investment Advisory Services, Kantoor Buitenzorg, Kantoor Nieuweroord and Triodos Nieuwbouw as subsidiaries. The method chosen for the taxation set-off between Triodos Bank and its 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 fiscal unity.