FY 2022 Results
Tax expense
2021
in €m
2021(1)
2022
reported
Income before taxes
1,632
1,570
1,973
Non-recurring income and expenses, net
(374)
(366)
36
Income before taxes
(excl. non-recurring income and
expense and net income from
2,005
1,936
1,937
associates)
Full-year normative tax rate (2)
29.9%
30.2%
28.8%
Normative tax expense
Evolution of the geographic mix and
decrease in corporate tax rate in
France (from 28.4% to 25.8%)
(599)
(585)
(557)
Non income-based taxes (mostly CVAE (3))
(31)
(31)
(39)
Others
258
256
188
Total tax expense
(372)
(360)
(408)
Effective tax rate
22.8%
23.0%
20.7%
(1) Carrefour Taiwan reclassified as held for sale as per IFRS 5
(2) Full year Normative tax rate:
- Reflects Carrefour's geographic footprint and the relative weighting of each country
Calculation based on local corporate income tax rate applied to pre-tax income excluding non-current items
(3) CVAE: local business tax in France based on a modified taxable income, recorded as corporate income tax; rate decrease by half starting in 2021
FY 2022 RESULTS
February 14, 2023
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