Boskalis Annual Report 2018

96 ANNUAL REPORT 2018 – BOSKALIS FINANCIAL STATEMENTS 2018 ANNUAL REPORT 2018 -- BOSKALIS FINANCIAL STATEMENTS 2018 96 The reconciliation between the Dutch nominal income tax rate and the effective income tax rate is as follows: 2018 2017 Profit/loss (-) before taxation - 413,792 172,120 Tax exempted share in result of joint ventures and associates (excluding impairments) - 28,386 - 31,020 Impairment charges and other extraordinary charges 519,474 - Profit/loss (-) before taxation, adjusted 77,296 141,100 Effects on tax (rate): Nominal tax rate in the Netherlands - 19,324 25.0% - 35,275 25.0% Tonnage tax, withholding tax, other special tax regimes - 18,725 24.2% 7,696 - 5.5% Different statutory tax rates for other jurisdictions 16,214 - 21.0% 7,209 - 5.1% Weighted average tax (rate) - 21,835 28.2% - 20,370 14.4% Increase (decrease) in tax (rate) resulting from: Unrecognized income tax losses and temporary differences - 5,047 6.5% - 6,896 4.9% Recognition of previously unrecognized tax losses 8,424 - 10.9% 2,577 - 1.8% Tax exempted revaluation results and book results - - 5,803 - 4.1% Non-deductible expenses - 19,808 25.6% - 15,961 11.3% Prior year adjustments 17,507 - 22.6% 13,170 - 9.3% Adjusted effective tax (rate) - 20,759 26.8% - 21,677 15.4% Tax exempted share in result of joint ventures and associates (excluding impairments) - - 7.2% - - 2.8% Tax benefit on impairment charges and other extraordinary charges 815 - 24.4% - - Income tax (rate) as disclosed in Consolidated Income statement - 19,944 - 4.8% - 21,677 12.6% In 2017 tax exempted revaluation results and book results relate to the Gardline transaction (see note 5.1). 13. INCOME TAX RECEIVABLE AND PAYABLE The current income tax receivables and income tax payables relate to the tax positions of the respective group companies and consist of financial years yet to be settled less withholding taxes and tax refunds.