Orano - Annual Activity Report 2024 344 6 STATEMENTS Consolidated financial statements - financial year ended December 31, 2024 NOTE 8 INCOME TAX ANALYSIS OF INCOME TAX EXPENSE (in millions of euros) December 31, 2024 December 31, 2023 Current taxes (France) (31) (22) Current taxes (other countries) (78) (80) Total current taxes (109) (102) Deferred taxes 55 (7) TOTAL TAXES (54) (109) The main French subsidiaries in the scope of consolidation, which are at least 95% owned, established an Orano SA tax consolidation group effective September 1, 2017. Future relationships between the subsidiaries and Orano SA for the period covered by the tax consolidation are governed by a tax consolidation agreement, based on the principle of neutrality. At December 31, 2024, the group’s profit outlook allows for the recognition of a deferred tax asset, mainly in respect of tax loss carryforwards and certain temporary differences. Deferred taxes recognized in the income statement include the impact of this recognition as well as that of uncertain tax positions classified in the statement of financial position as deferred tax liabilities. Uncertain tax positions relating to current tax are classified in the statement of financial position as current tax liabilities. The international tax reform approved by the OECD at the end of 2021, known as “Pillar 2”, aimed in particular at establishing a minimum tax rate of 15%, was adopted in France before December 31, 2023 as part of the Finance law for 2024. It came into effect from the financial year beginning January 1, 2024. Due to its revenue, Orano falls within the scope of application of this reform from January 1, 2024. In this context, Orano SA is the Ultimate Parent Entity (“UPE”) and could be liable, where applicable, for additional tax in respect of its low-tax subsidiaries. For the 2024 financial year, the Orano group should not be liable for any additional tax. RECONCILIATION BETWEEN INCOME TAX EXPENSE AND PROFIT(LOSS) BEFORE TAX (in millions of euros) December 31, 2024 December 31, 2023 Net income for the period 712 322 Share in net income of joint ventures and associates 12 3 Tax expense (income) 54 109 Income before tax 778 434 Theoretical tax (expense) / gain at 25.83% (201) (112) Impact of tax consolidation OPERATIONS TAXED AT A RATE OTHER THAN THE FULL STATUTORY RATE - - Unrecognized / recognized deferred taxes 157 40 Other changes in permanent differences (10) (38) Actual tax (expense) / income (54) (109) EFFECTIVE TAX RATE 7% 25% BREAKDOWN OF OTHER CHANGES IN PERMANENT DIFFERENCES (in millions of euros) December 31, 2024 December 31, 2023 Parent/subsidiary tax treatment and inter-company dividends (2) (1) Differences between the French tax rate and tax rates applicable abroad 27 (3) CVAE business tax (6) (7) Impact of change in tax rate (3) 3 Other (27) (29) TOTAL OTHER CHANGES IN PERMANENT DIFFERENCES (10) (38)
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