CFM Indosuez Wealth Management Annual Report 2022 112 4.12 TAX Tax charge (in thousands of euros) 31/12/2022 31/12/2021 Current tax expense -8998 -4801 Deferred tax expense 656 28 Total tax charge -8342 -4773 Reconciliation of theoretical tax rate and effective tax rate (in thousands of euros) On 31 December 2022 Basic Tax rate Tax Profit before tax, impairment of goodwill, discontinued operations and share of profit of companies accounted for by the equity method 51,609 25.00% 12,902 Effect of permanent differences 0.63% 327 Effect of tax rate differences of foreign entities -9.48% -4892 Effect of losses for the year, utilisation of losses carried forward and temporary differences 0.00% 0 Effect of reduced rate of taxation 0.00% 0 Change of rate 0.00% 0 Effect of other elements 0.01% 5 Effective tax rate and charge 16.16% 8,342 The theoretical tax rate is the standard tax rate (including the additional social contribution) on taxable profits in Monaco As of 31 December 2022. (in thousands of euros) On 31 December 2021 Basic Tax rate Tax Profit before tax, impairment of goodwill, discontinued operations and share of profit of companies accounted for by the equity method 33,865 26.5% 8,974 Effect of permanent differences 1.6% 527 Effect of tax rate differences of foreign entities -14.3% -4852 Effect of losses for the year, utilisation of losses carried forward and temporary differences -0.1% -18 Effect of reduced rate of taxation 0.00% 0 Change of rate 0.1% 45 Effect of other elements 0.3% 97 Effective tax rate and charge 14.1% 4,773 The theoretical tax rate is the standard tax rate (including the additional social contribution) on taxable profits in Monaco As of 31 December 2021.
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