technicolor - 2020 Universal Registration Document

FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Note 6 - Income Tax

2020

2019

(in million euros)

Value added tax receivable

43

31

Research tax credit and subsidies

5

5

Prepaid expenses

26

37 111

Other

150 224 (46) (36) (14) (119) (215)

OTHER CURRENT OPERATING ASSETS

184 (41) (44) (17)

Taxes payable

Accrued royalties expense Payables for fixed assets

Other

(200) (301)

OTHER CURRENT OPERATING LIABILITIES

Income Tax

NOTE 6

Income tax recognized in profit and loss

6.1 6.1.1

INCOME TAX EXPENSE

Income tax expense comprises current and deferred tax. Deferred has accounted for any tax benefits arising from tax losses from tax is recognized in profit or loss, except to the extent that it relates discontinued activities in continuing operations since these tax losses to items previously recognized outside profit or loss (either in OCI will be used by future benefits from continuing operations.

or directly in equity). Moreover, IAS 12 does not specify whether tax benefits arising from tax losses should be allocated to the source of the loss or the source of the realization of the benefit. The Group

Further to the application of IFRIC 23 – Uncertainty over Income Tax Treatments, current taxes also include uncertain tax positions previously included in Provisions.

2020

2019

(in million euros)

Current income tax France

-

(1) (9)

6

Foreign

(15) (15)

Total current income tax Deferred income tax France

(10)

-

-

Foreign

9

7 7

Total deferred income tax

10 (5)

INCOME TAX ON CONTINUING OPERATIONS

(3)

In 2020, the current income tax charge is mainly made of current taxes due in India, Brazil and Poland. In 2019, the current income tax charge is mainly attributable to current taxes due in India, Mexico and Poland. Please see section 6.2.1 for more details on the variation of deferred taxes.

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TECHNICOLOR UNIVERSAL REGISTRATION DOCUMENT 2020