a.s.r. annual report 2022

Income tax (expense) / gain

	2022	2021
Current taxes for the current period	39	-188
Current taxes referring to previous periods	9	26
Total current tax	47	-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

	2022	2021
Result before tax	929	1,209
Current tax rates	-25.8%	-25.0%
Expected income tax (expense) / gain	-240	-302

Effects of:
Tax-exempt interest	3	3
Tax on interest on other equity instruments	12	12
Tax-exempt dividends	5	5
Tax-exempt capital gains	24	12
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%).