XML 43 R29.htm IDEA: XBRL DOCUMENT v3.23.2
Income Tax Expense
 6 Months Ended
Jun. 30, 2023
Income taxes paid (refund) [abstract]  
Income Tax Expense
B.19. INCOME TAX EXPENSE
Sanofi has elected for tax consolidations in a number of countries, principally France, Germany, the United Kingdom and the United States.

The table below shows the allocation of income tax expense between current and deferred taxes:
(€ million)June 30, 2023 (6 months)June 30, 2022 (6 months)
December 31,
2022
(12 months)
Current taxes(1,171)(1,087)(2,774)
Deferred taxes441 592 768 
Total(730)(495)(2,006)
Income before tax and investments accounted for using the equity method4,238 3,674 10,422 
The difference between the effective tax rate (on income before tax and investments accounted for using the equity method) and the standard corporate income tax rate applicable in France is explained as follows:
(as a percentage)
June 30, 2023 (6 months)(a)
June 30, 2022 (6 months)(a)
December 31, 2022
(12 months)
Standard tax rate applicable in France25.8 25.8 25.8 
Difference between the standard French tax rate and the rates applicable to Sanofi (b)
(8.2)(10.8)(6.5)
Revisions to tax exposures and settlements of tax disputes0.5 (2.8)(0.8)
Fair value remeasurement of contingent consideration liabilities— (0.4)(0.2)
Other
(0.8)1.7 0.9 
Effective tax rate17.3 13.5 19.2 
(a)Rate calculated on the basis of the estimated effective tax rate for the full financial year (see Note A.2.).
(b)The difference between the French tax rate and tax rates applicable to foreign subsidiaries reflects the fact that Sanofi has operations in many countries, most of which have lower tax rates than France.