Sustainable taxpayer

Tax burden and payment of taxes

In countries in which a.s.r. is active, a.s.r. pays taxes on profits realised by the economic activities in those countries, in accordance with the OECD guidelines for multinational companies.

a.s.r. operates almost exclusively in the Netherlands, which means that almost all tax payments are made to the Dutch Tax and Customs Administration. With the exception of:

  • payments relating to insurance tax for, in particular, non-life insurance, where the right to tax lies in other countries; 
  • corporation tax paid to the French tax authorities in 2016, this is related to the sale of real estate located in France;
  • taxes at source withheld on foreign investment income. 
Tax payments by a.s.r. (in € million)    
   2017 2016
Profit before tax  1,128 855  
Corporation tax in p&l 220 201
Nominal tax burden 25.0% 25.0%
Effective tax burden 19.5% 23.5%

The relatively low effective tax burden in 2017 was caused by the result on the sale of Unilever cumprefs, which was not subject to corporation tax as a result of the application of the participation exemption.

   
Tax payments    
     
The Netherlands    
Corporation tax and taxes at source 231 (*) 201
Dividend tax withheld on dividends received 5 7
Dividend tax 29 28
Withholding taxes on benefits 247 232
Withholding taxes employees 124 118
Insurance premium tax  134 121
Turnover tax 1 2
Total tax payments the Netherlands  772 709
     
Deferred tax asset as at year-end 226 595

(*) In 2015, a total of 521 million euro corporation tax was paid. In 2017, 238 million euro corporation tax was reclaimed that was paid in 2015. For a balanced picture, this reclaimed amount has not been included in this overview. This also partly explains the lower deferred tax asset as at year-end 2017 relative to the situation as at year-end 2016.

   
Abroad    
Corporation tax France 0 2
Our investment income witheld foreign taxes at source 6 6
Foreign insurance premium tax 1 1
Total tax payments abroad 7 9
     
Numbers of employees    
Number of employees in FTEs, all employed in the Netherlands 3,493 3,461