XML 122 R50.htm IDEA: XBRL DOCUMENT v3.20.4
Performance B.6.1 Income tax expense (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Income tax (charge) credit      
Withholding tax $ (83) $ (56) $ (64)
Other income tax relating to the current year (65) (88) (82)
Adjustments in respect of prior years (29) (7) 1
Current tax expense (income) and adjustments (177) (151) (145)
Deferred tax (charge) credit      
Origination and reversal of temporary differences 99 58 32
Effect of change in tax rates (5) (8) (10)
Tax income (expense) before valuation allowances 94 50 22
Effect of valuation allowances (19) (9) (8)
Deferred tax expense (income) 75 41 14
Adjustments in respect of prior years 0 (10) 19
Deferred tax expense (income) and adjustments 75 31 33
Income Tax Calculation:      
Profit before tax (271) 218 119
Tax at the weighted average statutory rate 82 (37) (1)
Effect of:      
Items taxed at a different rate 1 (1) 7
Change in tax rates on deferred tax balances (5) (8) (10)
Expenditure not deductible and income not taxable (106) (37) (59)
Unrelieved withholding tax (83) (56) (64)
Accounting for associates and joint ventures 42 36 5
Movement in deferred tax on unremitted earnings 15 9 (2)
Unrecognized deferred tax assets (27) (20) (8)
Recognition of previously unrecognized deferred tax assets 8 11 0
Adjustments in respect of prior years (29) (17) 20
Total tax (charge) credit $ (102) $ (120) $ (112) [1]
Weighted average statutory tax rate 30.30% 17.00% 0.80%
Effective tax rate (37.50%) 55.00% 94.10%
Discontinued operations      
Income Tax Calculation:      
Profit before tax $ (11) $ 59 $ (29)
Tax at the weighted average statutory rate 3 (11) 0
Effect of:      
Items taxed at a different rate 0 0 0
Change in tax rates on deferred tax balances 0 0 0
Expenditure not deductible and income not taxable (3) 9 (2)
Unrelieved withholding tax 0 0 0
Accounting for associates and joint ventures 0 0 0
Movement in deferred tax on unremitted earnings 0 0 0
Unrecognized deferred tax assets 0 0 (2)
Recognition of previously unrecognized deferred tax assets 0 0 0
Adjustments in respect of prior years (2) 0 0
Total tax (charge) credit (2) (2) (4)
Aggregate continuing and discontinued operations      
Income Tax Calculation:      
Profit before tax (282) 277 90
Tax at the weighted average statutory rate 85 (48) (1)
Effect of:      
Items taxed at a different rate 1 (1) 7
Change in tax rates on deferred tax balances (5) (8) (10)
Expenditure not deductible and income not taxable (109) (28) (61)
Unrelieved withholding tax (83) (56) (64)
Accounting for associates and joint ventures 42 36 5
Movement in deferred tax on unremitted earnings 15 9 (2)
Unrecognized deferred tax assets (27) (20) (10)
Recognition of previously unrecognized deferred tax assets 8 11 0
Adjustments in respect of prior years (31) (17) 20
Total tax (charge) credit $ (104) $ (122) $ (116)
Weighted average statutory tax rate 30.10% 17.30% 1.10%
Effective tax rate (36.80%) 44.00% 128.90%
Bottom of range      
Effect of:      
Weighted average statutory tax rate 10.00% 10.00% 10.00%
Top of range      
Effect of:      
Weighted average statutory tax rate 35.00% 35.00% 37.00%
[1] 2018 was not restated for the application of IFRS 16, as the Group elected the modified retrospective approach.