AFD - Universal Registration Document 2020

CONSOLIDATED FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH IFRS 6 Notes to the consolidated financial statements

NOTE 18 Equity-accounted companies

31/12/2020

31/12/2019

Balance sheet

Income -7,034

Balance sheet

Income -5,884

In thousands of euros

SIC

29,659 110,345 140,004

37,138 109,616 146,753

Socredo TOTAL

730

4,300

-6,305

-1,584

NOTE 19 Corporate income tax

31/12/2020

31/12/2019

In thousands of euros

Corporate tax

10,102 -1,201 11,303

-18,350 -10,438

Taxes due

Deferred tax

-7,913

❙ Underlying tax position

31/12/2020 IFRS

31/12/2019 IFRS

In thousands of euros

Net income Corporate tax Pre-tax income

15,437 10,102

182,118 -18,350 200,468 -82,775

5,335

Total theoretical tax expense 34.43% Ǿ (A)

-7,990 18,092 10,102

Total matching items Ǿ (B)

64,425

Net recorded tax expense Ǿ (A) + Ǿ (B)

-18,350

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 Ǿ 1 (rate in force in Ǿ 2020) and 25.83% for stage Ǿ 2 (rate in force from 2022); P deferred taxes based on the unrealised gains or losses on loans, investments and convertible bonds were estimated on the basis of the rate of 28.41%.

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2020 UNIVERSAL REGISTRATION DOCUMENT