4.12 TAX Tax charge (in thousands of euros) 31/12/2023 31/12/2022 Current tax expense 16,505 -8,998 Deferred tax expense 314 656 Total tax charge -16,191 -8,342 Reconciliation of theoretical tax rate and effective tax rate (in thousands of euros) AT 31 DECEMBER 2023 Basis Tax rate Tax Profit before tax, impairment of goodwill, discontinued operations and share of profit of companies accounted for by the equity method 81,706 25.83% 21105 Effect of permanent differences -5.04% - 4,118 Effect of tax rate differences of foreign entities -0.83% -678 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 -0.14% -117 Effective tax rate and charge 19.82% 16191 The theoretical tax rate is the standard tax rate on taxable profits in Monaco at 31 December 2023. (in thousands of euros) AT 31 DECEMBER 2022 Basis 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% 12902 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% 8342 The theoretical tax rate is the standard tax rate on taxable profits in Monaco at 31 December 2022. CFM Indosuez Wealth Management 116
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