Recognised in profit or loss:
x € 1,000
|
2023 |
2022 |
|||
|
Current tax charges or credits |
||||
|
Current financial year |
-14,558 |
-9,032 |
||
|
Prior financial years |
-43 |
0 |
||
|
-14,601 |
-9,032 |
|||
|
Deferred tax charges or credits |
||||
|
Relating to temporary differences |
896 |
290 |
||
|
Prior financial years |
-210 |
0 |
||
|
Relating to tax loss carryforwards |
-8,450 |
-9,341 |
||
|
Relating to the write-off of a deferred tax asset (charge) or to the reversal of a write-off (credit) |
983 |
4,582 |
||
|
-6,781 |
-4,469 |
|||
|
Total tax charge in the statement of profit or loss |
-21,382 |
-13,501 |
||
The tax charges per country are as follows:
x € 1,000
|
2023 |
2022 |
|
|
Netherlands |
-21,382 |
-13,501 |
|
-21,382 |
-13,501 |
Analysis of the effective tax rate:
x € 1,000
|
2023 |
2022 |
|||
|
% |
€ |
% |
€ |
|
|
Result before tax |
81,115 |
73,081 |
||
|
Based on local tax rate |
25.8% |
-20,928 |
25.8% |
-18,855 |
|
Non-deductible interest |
0.0% |
0 |
0.2% |
-174 |
|
Non-deductible expenses, other |
2.1% |
-1,732 |
0.8% |
-565 |
|
Non-taxable revenue in results of investees |
0.1% |
-72 |
-1.5% |
1,106 |
|
Losses not recognised in current financial year and other deferred tax assets and the reversals thereof |
0.1% |
-43 |
0.1% |
-86 |
|
Effect of changes in the tax rate |
0.0% |
0 |
0.0% |
0 |
|
Effect of changes to loss relief rules |
0.0% |
0 |
0.0% |
0 |
|
Prior-year adjustment |
0.3% |
-253 |
0.0% |
0 |
|
Effect of recognising previously unrecognised losses |
-1.2% |
983 |
-6.3% |
4,582 |
|
Effect of miscellaneous/foreign tax rates |
-0.8% |
663 |
-0.7% |
491 |
|
Overall tax burden |
26.4% |
-21,382 |
18.5% |
-13,501 |
The effective tax rate for 2023 was 26.4% (2022: 18.5%).
The main differences between the effective tax rate and the local tax rate in the Netherlands concern the effect of the recognition of previously unrecognised losses. The other differences concern non-deductible transaction costs related to the Van Wanrooij share transaction, the general restrictions on the deductibility of expenses, the deduction for environmental investments, and the tax exempt results from investees.
The Base Erosion and Profit Shifting Pillar 2 regulations (global minimum tax rate of 15%) came into effect on 1 January 2024 and Heijmans falls within the scope of these regulations. If the aforementioned regulations were effective as at the balance sheet date, the impact on the effective tax burden for 2023 would have been zero. This conclusion is based on an impact analysis of the safe harbour rules. Heijmans is currently preparing to make a full Pillar 2 calculation once the safe harbour rules no longer apply.