Income tax

Schedule of reconciliation of tax expense and the accounting profit


	For the year ended December 31,
In thousands of EUR	2018		2019		2020
Loss before income tax	(169,494)		(226,490)		(158,343)
Statutory tax rate	29.04	%	27.39	%	27.85	%
Expected income tax benefit	49,226		62,036		44,106
Non deductible expenses	(18,826)		(26,063)		(38,359)
Non taxable income	890		3,874		2,185
Deferred tax asset not recognized	(32,170)		(40,271)		(10,506)
Deferred tax: relating to origination and reversal of temporary differences and tax losses	(7)		(151)		(41)
Income tax expense	(887)		(575)		(2,615)
Effective tax rate	0.52	%	0.25	%	1.65	%

Schedule of tax losses available for offsetting against future taxable profits


					As of December 31,
					2018	2019	2020
In thousands of EUR					Accumulated tax	Accumulated tax	Accumulated tax
Country	Duration	Rate			loss [gross]	loss [gross]	loss [gross]
Germany **	Indefinite	30.2	%	*	—	(8,961)	(26,235)
Morocco	4 years	31.0	%		(25,848)	(25,342)	(28,141)
Egypt	5 years	22.5	%		(61,942)	(90,148)	(107,831)
Nigeria	Indefinite	30.0	%		(145,143)	(203,482)	(202,353)
South Africa	Indefinite	28.0	%		(28,267)	(34,327)	(38,204)
Kenya	10 Years	30.0	%		(39,135)	(64,812)	(64,236)
Ivory Coast	5 years	25.0	%		(19,962)	(27,005)	(27,975)
Ghana	3 years	25.0	%		(5,228)	(9,848)	(8,255)
Other	N/A	N/A			(32,974)	(63,829)	(46,633)
Total					(358,499)	(527,754)	(549,863)

* In Germany, the calculation of current tax is based on a combined tax rate of 30.2%, consisting of a corporate income tax rate of 15.8% and a trade tax rate of 14.4%.

** Accumulated tax losses related to Trade Tax amount to EUR 45,258 thousand as of December 31, 2020, not included in the table above.