AFD // 2021 Universal Registration Document

CONSOLIDATED FINANCIAL STATEMENTS 6 Notes to the consolidated financial statements

NOTE 19 Equity method

31/12/2021

31/12/2020

In thousands of euros

Impact

Balance sheet

Income Balance sheet

Income

SIC

33,770 113,959 147,729

2,926 3,614 6,540

29,659 110,345 140,004

-7,034

Socredo TOTAL

730

-6,305

NOTE 20 Corporate income tax

31/12/2021

31/12/2020

In thousands of euros

Corporate tax

-10,586 -16,153

10,102 -1,201 11,303

Taxes due

Deferred tax

5,567

❙ Underlying tax position

31/12/2021

31/12/2020

In thousands of euros

Net income Corporate tax Pre-tax income

323,027 -10,586 333,613 -86,569

15,437 10,102

5,335

Total theoretical tax expense 34.43% (A)

-7,990 18,092 10,102

Total matching items (B)

75,983

Net recorded tax expense (A) + ɸ (B)

-10,586

Deferred taxes are estimated on the basis of the following assumptions: P deferred taxes based on impairments were estimated on the basis of the following rates: 28.41% for stage ɸ 1 (rate in force in 2021) and 25.83% for stage ɸ 2 (rate in force from 2022); P deferred taxes based on the unrealised gains or losses on loans and convertible bonds were estimated on the basis of the rate of 28.41%. The same rate is used over costs and expenses on the unrealised gains and losses of the equity investments.

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2021 UNIVERSAL REGISTRATION DOCUMENT