IE Domain Registry t/a .IE Annual Report 2021

7. Taxation 7(a) Current year taxation 2021 2020 € € Current year taxation Corporation tax on the profit for the year on ordinary activities 53,673 50,231 Deferred taxation Origination of timing differences 53,465 41,867 107,138 92,098 7(b) Factors affecting tax charge for year 2021 2020 € € Profit on ordinary activities before tax 596,222 511,513 Profit on ordinary activities multiplied by standard rate of Corporation Tax in Ireland of 12.5% 74,528 63,939 Effects of: Capital allowances for period greater than depreciation (242) (8,020) Income at higher rates of taxation 1,635 2,716 Expenses not allowable for tax purposes 4,150 12,854 Movement in financial investment valuation unrealised – so not chargeable for tax purposes (26,733) (20,934) Income tax withheld 1,100 1,100 Income not taxable (765) (1,424) Other timing differences 53,465 41,867 Current tax charge for year (Note 7(a)) 107,138 92,098 Financial Statements IE Domain Registry CLG t/a .IE / Annual Report & Review 2021 45