2018 Registration document and annual fi nancial report - BNP PARIBAS 195

4CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018

4

Notes to the fi nancial statements

Reconciliation of the effective tax expense to the theoretical tax expense at standard tax rate in France

Year to 31 Dec. 2018 IFRS 9 & IFRS 15

Year to 31 Dec. 2017 IAS 39

in millions of euros tax rate

in millions of euros tax rate

Corporate income tax expense on pre-tax income at standard tax rate in France(1) (3,280) 34.4% (3,718) 34.4%

Impact of differently taxed foreign profi ts 456 -4.8% 333 -3.1%

Impact of changes in tax rates - - (486) 4.5%

Impact of the securities taxation 362 -3.8% 427 -4.0%

Impact of the non-deductibility of taxes and bank levies(2) (209) 2.2% (196) 1.8%

Impact of previously unrecognised deferred taxes (tax losses and temporary differences) 86 -0.9% 449 -4.2%

Impact of using tax losses for which no deferred tax asset was previously recognised - - 6 -

Other items 382 -4.0% 82 -0.7%

Corporate income tax expense (2,203) 23.1% (3,103) 28.7%

Current tax expense for the year to 31 December (1,691) (1,989)

Deferred tax expense for the year to 31 December (note 5.k) (512) (1,114)

(1) Restated for the share of profi ts in equity-method entities and goodwill impairment. (2) Contribution to the Single Resolution Fund and non-deductible systemic bank levies.

3.i CORPORATE INCOME TAX