Inspiring Tomorrow - Corporate Presentation
Tax on Accounting Profit at Applicable Rate
TAX PROFILE
Borouge has a normalized tax rate of ~31%
Effective Tax Rate Reconciliation (1)
(in $m)
Profit Before Tax
Effective Tax Rate
Tax Effect of Income/Tax Holidays
Other
P&L Taxes
2019 A
2020A
2021A
2021PF
1,217
1,235
2,123
2,200
25.0%
23.0%
31.4%
n.a.
304
284
665
n.a.
(161)
(10)
31
(2)
(1)
n.a.
175
272
664
674
Income Tax Paid
173
199
678
n.a.
Implied Cash Tax Rate
14.2%
16.1%
31.9%
n.a.
Implied Cash Tax Rate
(%)
Sources: Company Information
1)
ADP only, except 2021 PF
74
Corporate Presentation | April 2022
16.1%
14.2%
31.9%
2019A
2020A
2021A
بروج
Borouge
Commentary
B3 benefitted from a tax holiday
until April 2020; from May 2020
onwards, the tax holiday has
phased out
- Hence, the first fully
normalized year for tax
payments is 2021A
Cash taxes difference driven by
rollover of previous year tax
liabilities
דיי
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