.IE Annual Report 2022

7. Taxation 7(a) Current year taxation 2022 2021 € € Current year taxation Corporation tax on the profit for the year on ordinary activities 56,924 53,673 Capital taxes arising on investment gains 170,528 - Deferred taxation (Reversal)/Origination of timing differences (183,807) 53,465 43,645 107,138 7(b) Factors affecting tax charge for year 2022 2021 € € Profit on ordinary activities before tax 260,926 596,222 Profit on ordinary activities multiplied by standard rate of Corporation Tax in Ireland of 12.5% 32,616 74,528 Effects of: Capital allowances for period greater than depreciation 679 (242) Income at higher rates of taxation 173,980 1,635 Expenses not allowable for tax purposes 58,524 4,150 Movement in financial investment valuation unrealised – so not chargeable for tax purposes 8,142 (26,733) Income tax withheld 1,766 1,100 Income not taxable (48,255) (765) Other timing differences (183,807) 53,465 Current tax charge for year (Note 7(a)) 43,645 107,138 Financial Statements .IE is the trading name of IE Domain Registry CLG / Annual Report & Review 2022 43