Corporate income tax is calculated based on the applicable tax rates in the Netherlands, the UK, Ireland, Belgium, Germany, France and the Scandinavian countries, taking into account the tax rules that produce permanent differences between the result valued for commercial purposes and the result valued for tax purposes. The tax rules include participation exemption and limits to deductible costs.

The effective tax burden for income tax on the result was 19% (18% in 2015). Agreements have been made with the Dutch Tax and Customs Administration about the tax returns up to and including 2012. Finalised assessments for the subsequent years have not yet been received. In the financial statements for this year and previous years, tax is included on the basis of the tax returns submitted and the underlying principles adopted in those tax returns. Refer to note 16 for further details of the tax position.