Definition for : Tax proof

Also called reconciliation of the tax expense, this is a table included in the Notes to the accounts which explains the reconciliation between the theoretical tax rate on companies and the tax rate effectively paid by the company or the group. The reconciliation can be given in monetary units or as a rate. The main differences are explained by the different tax rates from one country to another, by accounting Expenses which are not tax Deductible, by Income which is not taxed, and by different tax rates within the same company.

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