Annual report 2004 (PDF, 4141 kB) - Unicredit Bank

24 TAXATION
31 December 2004
CZK m
31 December 2003
CZK m
Profit before taxation 253 397
Permanent differences between profit and tax base:
Non-taxable income - 132 - 86
Non-deductible expenses 164 122
Net taxable profit/(loss) 285 433
10% investment relief - 10 - 2
Utilised losses brought forward 0 0
Deductible gifts - 1 0
Adjusted tax base 274 431
28% (31%) corporate tax charge 77 133
Additional tax charge for the year 2003 (2002) 1 2
Aditional income tax assesment 21 0
Deferred income tax assets - 41 0
Total 58 135
Deferred income tax liabilities
Accelerated tax depreciation -10 - 11
Deferred income tax assets
Loan loss provisions 44 39
Other provisions 0 0
Tax loss carry forwards 0 0
Expenses tax-deductible on cash flow basis 7 5
51 44
Potential net deferred tax asset 41 33
On the basis of an audit carried out by the Tax authority the Bank paid an additional income
tax assessed for 1999-2002, amounting to CZK 21 million. The Bank filed an appeal against
findings presented by the Tax authority in the control report.
50