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Income tax (Tables)
12 Months Ended
Dec. 31, 2017
Income tax  
Schedule of current and deferred tax

 

 

 

 

 

 

 

 

 

Year ended December 31,

 

 

2017

 

2016

 

2015

 

    

$m

    

$m

    

$m

Current tax:

 

 

 

 

 

 

Current tax for the year

 

99

 

69

 

60

Adjustments in respect of prior years

 

 1

 

(20)

 

37

Total current tax

 

100

 

49

 

97

Deferred tax:

 

  

 

  

 

  

Deferred tax for the year

 

(134)

 

(11)

 

 8

Adjustments in respect of prior years

 

(6)

 

28

 

(57)

Total deferred tax

 

(140)

 

17

 

(49)

Income tax (credit)/charge

 

(40)

 

66

 

48

 

Schedule of reconciliation of tax expense and the accounting loss multiplied by the Group's domestic tax rate

 

 

 

 

 

 

 

 

 

Year ended December 31,

 

 

2017

 

2016

 

2015

 

    

$m

    

$m

    

$m

Loss before tax

 

 1

 

(106)

 

(87)

Loss before tax multiplied by the standard rate of Luxembourg corporation tax: 27.08% (2016: 29.22%; 2015: 29.22%)

 

 —

 

(31)

 

(25)

Tax losses for which no deferred income tax asset was recognized

 

 —

 

 1

 

 2

Re-measurement of deferred taxes

 

(78)

 

(6)

 

(6)

Adjustment in respect of prior years

 

(4)

 

 8

 

(20)

Income subject to state and other local income taxes

 

17

 

10

 

12

Income taxed at rates other than standard tax rates

 

(19)

 

21

 

30

Non-deductible items

 

36

 

66

 

59

Other

 

 8

 

(3)

 

(4)

Income tax (credit)/charge

 

(40)

 

66

 

48