Note 56 Tax

€ million



Current tax expense



Movement in deferred tax







The effective tax rate was 19.8%. The recognised tax expense of €10 million is made up of tax charges of €12 million for 2017 and a tax recovery totalling €2 million relating to investment incentive schemes.

The tax recovery of €1 million due to movements in deferred taxes relates to changes in the differences between the carrying amounts in the financial statements and the amounts used for tax purposes.