4.12 TAX Tax charge (in thousands of euros) 31/12/2024 31/12/2023 pro forma 31/12/2023 Current tax charge (1) -15,187 -16,585 -16,505 Deferred tax expense 425 721 314 Total tax charge -14,762 -15,864 -16,191 Reconciliation of theoretical tax rate and effective tax rate (in thousands of euros) AT 31 DECEMBER 2024 Basis Tax rate Tax Profit before tax, impairment of goodwill, discontinued operations and share of profit of companies accounted for by the equity method 74,113 25.83% 19,143 Effect of permanent differences -5.08% -3766 Effect of tax rate differences of foreign entities -0.83% -615 Effect of losses for the year, utilisation of losses carried forward and temporary differences 0.00% Effect of reduced rate of taxation 0.00% Change of rate 0.00% Effect of other elements 0.00% Effective tax rate and charge 19.92% 14,762 The theoretical tax rate is the standard tax rate (including the additional social contribution) on taxable profits in Monaco as at 31 December 2024. (in thousands of euros) AT 31 DECEMBER 2023 PRO FORMA Basis Tax rate Tax Profit before tax, impairment of goodwill, discontinued operations and share of profit of companies accounted for by the equity method 76,637 25.83% 19,795 Effect of permanent differences -4.30% -3295 Effect of tax rate differences of foreign entities -0.83% -636 Effect of losses for the year, utilisation of losses carried forward and temporary differences 0.00% Effect of reduced rate of taxation 0.00% Change of rate 0.00% Effect of other elements 0.02% 19 Effective tax rate and charge 20.70% 15,864 The theoretical tax rate is the standard tax rate (including the additional social contribution) on taxable profits in Monaco as at 31 December 2023. Annual Report 2024 117
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