Financial and
ESG report 2020

15b. Effective tax rate

01.01.2020 –
31.12.2020
01.01.2019 –
31.12.2019
Profit before tax 210 935 835 343
Statutory tax rate 19% 19%
Income tax according to obligatory income tax rate of 19% (40 078) (158 715)
Impact of permanent differences on tax charges: (150 741) (116 134)
Non-taxable income 20 038 8 425
Dividend income 527 362
Release of other provisions 9 432 6 981
Settlement with SG due to adjustment of Euro Bank S.A. purchase price 10 039 0
Other 40 1 082
Cost which is not a tax cost (170 779) (124 559)
Write-down of unrealized deferred tax assets (171) (3 987)
Loss on sale of receivables (8) 0
PFRON fee (1 541) (1 405)
Fees for Banking Guarantee Fund (31 765) (23 457)
Settlement of BFG SKOK PIAST (1 824) 0
Banking tax (53 038) (47 120)
Income/cost of provisions for factoring and leasing receivables 492 (4 160)
Receivables written off (2 324) (1 441)
Costs of litigations and claims (76 070) (39 586)
Depreciation and insurance costs of cars (in excess of PLN 150,000) (1 460) (2 101)
Other (3 070) (1 302)
Deduction of the tax paid abroad 246 238
Adjustment resulted from Article 38a of CIT 2 454 0
Total income tax reported in income statement (188 119) (274 611)
Effective tax rate 89.18% 32.87%

 

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