XML 66 R49.htm IDEA: XBRL DOCUMENT v3.24.0.1
Income taxes (Tables)
 12 Months Ended
Dec. 31, 2023
Text block [abstract]  
Summary of Income Taxes
Income taxes recognized in the income statement can be detailed as follows:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
       
Million US dollar
  
2023
 
 
   2022
 
 
   2021
 
Current year
  
 
(2 828
) 
 
 
(2 785
) 
 
 
(2 857
) 
(Underprovided)/overprovided in prior years
  
 
(95
) 
 
 
157
  
 
 
159
  
Current tax expense
  
 
(2 923
) 
 
 
(2 628
) 
 
 
(2 698
) 
 
  
 
 
 
 
 
 
 
 
 
 
 
Origination and reversal of temporary differences
  
 
855
  
 
 
829
  
 
 
632
  
Recognition/(de-recognition) of deferred tax assets on tax losses (carried forward)
  
 
(166
) 
 
 
(128
) 
 
 
(284
) 
Deferred tax (expense)/income
  
 
689
 
 
 
701
 
 
 
348
 
 
  
 
 
 
 
 
 
 
 
 
 
 
Total income tax expense in the income statement
  
 
(2 234
) 
 
 
(1 928
) 
 
 
(2 350
) 
Summary of Reconciliation of Effective Tax Rate with Aggregated Weighted Nominal Tax Rate
The reconciliation of the effective tax rate with the aggregated weighted nominal tax rate can be summarized as follows:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
       
Million US dollar
  
2023
 
  
   2022
 
  
   2021
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Profit/(loss) before tax
  
 
9 124
 
  
 
9 524
 
  
 
8 463
  
Deduct share of results of associates
  
 
295
 
  
 
299
 
  
 
248
  
Deduct exceptional share of results of associates
  
 
(35)
 
  
 
(1 143)
 
  
 
-
 
Profit before tax and before share of results of associates
  
 
8 864
 
  
 
10 369
 
  
 
8 215
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Adjustments to the tax basis
  
 
 
 
  
 
 
 
  
 
 
 
Government incentives
  
 
(756)
 
  
 
(713)
 
  
 
(543)
 
Non-deductible/(non-taxable) mark-to-market on derivatives
  
 
325
 
  
 
(606)
 
  
 
48
 
Other expenses not deductible for tax purposes
  
 
1 632
 
  
 
1 590
 
  
 
1 979
 
Other non-taxable income
  
 
(647)
 
  
 
(576)
 
  
 
(476)
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Adjusted tax basis
  
 
9 417
 
  
 
10 065
 
  
 
9 223
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Aggregate weighted nominal tax rate
  
 
27.4%
 
  
 
26.7%
 
  
 
26.7%
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Tax at aggregated nominal tax rate
  
 
(2 583)
 
  
 
(2 691)
 
  
 
(2 463)
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Adjustments on tax expense
  
 
 
 
  
 
 
 
  
 
 
 
Recognition/(de-recognition) of deferred tax assets on tax losses (carried forward)
  
 
(166)
 
  
 
(128)
 
  
 
(284)
 
(Underprovided)/overprovided in prior years
  
 
(95)
 
  
 
157
 
  
 
159
 
Deductions from interest on equity
  
 
781
 
  
 
790
 
  
 
469
 
Deductions from goodwill and other tax deductions
  
 
491
 
  
 
473
 
  
 
226
 
Change in tax rate
  
 
2
 
  
 
48
 
  
 
(147)
 
Withholding taxes
  
 
(559)
 
  
 
(436)
 
  
 
(485)
 
Other tax adjustments
  
 
(105)
 
  
 
(140)
 
  
 
175
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Total tax expense
  
 
(2 234)
 
  
 
(1 928)
 
  
 
(2 350)
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Effective tax rate
  
 
25.2%
 
  
 
18.6%
 
  
 
28.6%
 
Summary of Detail Information of Income Tax Recognized in Other Comprehensive Income
Income taxes were directly recognized in other comprehensive income as follows:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
       
Million US dollar
  
2023
 
  
   2022
 
  
   2021
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Re-measurements of post-employment benefits
  
 
(13)
 
  
 
(126)
 
  
 
(123)
 
Exchange differences, cash flow and net investment hedges
  
 
(41)
 
  
 
(51)
 
  
 
(45)
 
Income tax (losses)/gains
  
 
(54)
 
  
 
(177)
 
  
 
(167)