Under the group tax regime agreement between VINCI SA and those subsidiaries that are members of the tax group, tax savings made by the tax group connected with the tax losses of some subsidiaries are recognised by the parent company as income for the period.
Provisions for tax taken and reversed are recorded here.
The line item “Income tax expense” records income and expense connected with the group tax regime of which VINCI is the lead company.
There was net tax income of €133 million in 2021, compared with €138 million in 2020.
Tax income in respect of 2021 received from subsidiaries that are members of the tax group amounted to €1,039 million (€734 million in 2020) and the tax expense due by VINCI was €895 million (€592 million in 2020).
Balance sheet items at 31 December 2021 in respect of related companies break down as follows
| (in € millions) | |
|---|---|
| Assets | Assets
|
| Non-current assets | Non-current assets
|
| Investments in subsidiaries and affiliates | Investments in subsidiaries and affiliates
26,002 |
| Receivables connected with investments in subsidiaries and affiliates | Receivables connected with investments in subsidiaries and affiliates
12,922 |
| Current assets | Current assets
|
| Trade receivables and related accounts | Trade receivables and related accounts
446 |
| Other receivables | Other receivables
108 |
| Cash management current accounts of related companies | Cash management current accounts of related companies
206 |
|
|
| Equity and liabilities | Equity and liabilities
|
| Borrowings and financial debt | Borrowings and financial debt
|
| Other liabilities related to investments in subsidiaries and affiliates | Other liabilities related to investments in subsidiaries and affiliates
|
| Cash management current accounts of related companies | Cash management current accounts of related companies
5,773 |
| Trade and other operating payables | Trade and other operating payables
|
| Liabilities related to non-current assets and related accounts | Liabilities related to non-current assets and related accounts
|
| Trade payables and related accounts | Trade payables and related accounts
7 |
| Other payables | Other payables
55 |
Transactions with related companies recorded in 2021 break down as follows:
| (in € millions) | |
|---|---|
| Financial income | Financial income
|
| Cash management current accounts | Cash management current accounts
3 |
| Loans to subsidiaries | Loans to subsidiaries
82 |
| Dividends (including results of joint ventures) | Dividends (including results of joint ventures)
2,621 |
| Other | Other
268 |
| Financial expense | Financial expense
|
| Cash management current accounts | Cash management current accounts
(2) |
| Other | Other
(20) |
