See accounting policy NN.
|Current taxes for the current period||-188||-149|
|Current taxes referring to previous periods||26||17|
|Total current tax||-162||-132|
|Deferred taxes arising from current period||-105||-65|
|Deferred taxes arising from changes in tax rates||-3||25|
|Total deferred tax||-108||-40|
|Income tax (expense) / gain||-270||-172|
The expected income tax expense is determined by applying the tax rate in the Netherlands to the result before tax. In 2021, this rate was 25.0% (2020: 25.0%). The enacted tax rate for 2022 will be 25.8%.
The table below shows a reconciliation of the expected income tax expense with the actual income tax expense.
|Result before tax||1,209||829|
|Current tax rates||-25.0%||-25.0%|
|Expected income tax expense||-302||-207|
|Tax on interest on other equity instruments||12||12|
|Tax-exempt capital gains||12||5|
|Changes in impairments||-2||-30|
|Adjustments for taxes due on previous financial years||5||15|
|Total Income tax (expense) / gain||-270||-172|
The result is almost entirely earned and taxable in the Netherlands.
The effective income tax rate is 22.4% (2020: 20.7%).
The effect of changes in the enacted tax rate are included in the other effects (2020: mainly concerns the release of the in 2019 proposed tax rate of 21.7%).