2018 Registration document and annual fi nancial report - BNP PARIBAS 477

6INFORMATION ON THE PARENT COMPANY FINANCIAL STATEMENTS 31 DECEMBER 2018

6

Notes to the parent company fi nancial statements

2.g GAINS OR LOSSES ON DISPOSALS OF LONG-TERM INVESTMENTS

In millions of euros

Year to 31 Dec. 2018 Year to 31 Dec. 2017

Income Expenses Income Expenses

Investments in subsidiaries and equity securities held for long-term investment 295 (121) 224 (166)

Divestments 287 (1) 180 (43)

Provisions 8 (120) 44 (123)

Investments in affi liates 170 (751) 438 (664)

Divestments 79 (53) 41 (153)

Provisions 91 (698) 397 (511)

Operating assets 2 (3) 41 (1)

TOTAL 467 (875) 703 (831)

NET LOSSES ON DISPOSALS OF LONG-TERM INVESTMENTS (408) (128)

2.h CORPORATE INCOME TAX

In millions of euros Year to 31 Dec. 2018 Year to 31 Dec. 2017

Current tax expense 506 238

Deferred tax expense 51 107

INCOME TAX 557 345

The basic tax consolidation agreements between BNP Paribas SA and the subsidiaries belonging to its tax group are designed to be tax neutral for every party. Each Group subsidiary recognises in its own books, over the full term of its consolidation, corporate income tax income or expense, additional contributions and all current or future taxes covered by the scope of tax consolidation just as they would if they were not part of a tax group. BNP Paribas SA, as the parent company, records the impact of Group tax savings from tax consolidation in France in current tax expense.