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English to Russian translations [PRO] Bus/Financial - Economics / taxes
English term or phrase:deferred tax credit
Отрывок из предложения подписки российской компании:
The Company and its subsidiaries’ income were taxed at the statutory rate of 24% in 2004 and 2003. The effective income tax rate for the Company was 27.4% and 26.0% for the year-ended 31 December 2004 and 2003, respectively. Income tax expenses increased by RUB --(US$--) million or 63.5% to RUB -- (US$--) million in 2004 from RUB --(US$--) million in 2003, in line with the increase of profitability of the business. Total income tax expense for 2003 was partially offset by a deferred tax credit of RUB -- (US$--) million associated with the early retirement of a long-term interest free loan from --- to ---. In 2004, the Company recognised a deferred tax charge of RUB --(US$--) million.