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27. Income tax expense

The Group’s applicable income tax rate for the companies located in the Russian Federation is 20%.

2012 2011

Current income tax expense

Current year

32,019

33,645

Adjustment for prior years

(1,934)

83

30,085

33,728

Deferred tax expense

Origination and reversal of temporary differences

5,220

6,268

Change in tax rate

534

5,754

6,268

Tax expense excluding share of tax of equity accounted investees

35,839

39,996

Share of tax of equity accounted investees

6,773

(15)

Total income expense

42,612

39,981

Reconciliation of effective tax rate:

2012 2011
RUB million % RUB million %

Total income tax expense

42,612

18.8

39,981

19.5

Profit before income tax excluding share of equity accounted investees

191,710

200,791

Profit before income tax of equity accounted investees

34,748

3,924

Profit before income tax

226,458

204,715

Tax at applicable domestic tax rate (20%)

45,292

20.0

40,943

20.0

Effect of tax rates in foreign jurisdictions

(2,935)

(1.3)

(2,844)

(1.4)

Difference in statutory tax rate in domestic entities

(1,371)

(0.6)

(931)

(0.5)

Non-deductible income and expenses

4,406

1.9

1,890

0.9

Adjustment for prior years

(1,934)

(0.9)

83

0.0

Foreign exchange income/losses

(846)

(0.4)

840

0.4

Total income tax expense

42,612

18.8

39,981

19.5

Notes in Consolidated Statements:

Consolidated Statement of Comprehensive Income for the Year Ended December 31, 2012 Back to list

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