Annual Report 2022
Income tax (expense) / gain

See accounting policy NN.

Income tax (expense) / gain
Current taxes for the current period39-188
Current taxes referring to previous periods926
Total current tax47-162
Deferred taxes arising from current period-251-105
Deferred taxes arising from changes in tax rates--3
Total deferred tax-251-108
Income tax (expense) / gain-204-270

The expected income tax expense is determined by applying the tax rate in the Netherlands to the result before tax. In 2022, this rate was 25.8% (2021: 25.0%). The enacted tax rate for 2023 will be 25.8%.

The table below shows a reconciliation of the expected income tax expense with the actual income tax expense.

Reconciliation of expected income tax (expense) / gain with the actual income tax (expense) / gain
Result before tax9291,209
Current tax rates-25.8%-25.0%
Expected income tax (expense) / gain-240-302
Effects of:
Tax-exempt interest33
Tax on interest on other equity instruments1212
Tax-exempt dividends55
Tax-exempt capital gains2412
Changes in impairments-3-2
Adjustments for taxes due on previous financial years-5
Other effects-6-3
Total Income tax (expense) / gain-204-270

The result is almost entirely earned and taxable in the Netherlands.

The effective income tax rate is 22.0% (2021: 22.4%).