Income tax

The effective tax rate for the result before corporate income tax is 19%, compared to 18% in 2015. Corporate income tax of €49 million was liable over 2016 (2015: €26 million).
Corporate income tax was calculated on the basis of the applicable tax rates, taking the tax rules into account. The valuation of temporary differences was also taken into account. The tax rules include participation exemption, tax compensation of losses and the notional addition for costs that are not deductible in full.