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BP » Topics » Deferred tax

This excerpt taken from the BP 20-F filed Jun 13, 2006.

Deferred tax

 
   At December 31,
 
 
   2004
  2003
 
 
   ($ million)
 
Analysis of provision:          
  Depreciation   15,936   15,613  
  Other taxable timing differences   2,090   1,882  
  Petroleum revenue tax   (578 ) (601 )
  Decommissioning and other provisions   (2,142 ) (2,256 )
  Pensions and other postretirement benefits   (1,720 ) (1,652 )
  Tax credit and loss carry forward   (51 ) (105 )
  Other deductible timing differences   (205 ) (162 )
   
 
 
Deferred tax provision   13,330   12,719  
   
 
 
of which — UK   3,932   4,179  
               — Overseas   9,398   8,540  
   
 
 

Analysis of movements during the year:
 
 
 
 
 
  At January 1   12,719   10,894  
  Exchange adjustments   329   541  
  Charge for the year on ordinary activities   200   1,220  
  Charge for the year in the statement of total recognized gains and losses   89   64  
  Deletions/transfers   (7 ) —  
   
 
 
At December 31   13,330   12,719  
   
 
 
offset against — Pensions   147   172  
                       — Other postretirement benefits   1,573   1,480  
   
 
 
Disclosed as deferred taxation on the balance sheet   15,050   14,371  
   
 
 
 
   Years ended December 31,
 
 
   2004
  2003
  2002
 
 
   ($ million)
 
The charge for deferred tax on ordinary activities:              
  Origination and reversal of timing differences   200   1,220   814  
  Effect of the introduction of supplementary UK corporation tax of 10% on opening liability   —   —   355  
   
 
 
 
    200   1,220   1,169  
   
 
 
 
The charge (credit) for deferred tax in statement of total recognized gains and losses:              
  Origination and reversal of timing differences   89   64   (2,320 )
   
 
 
 

F - 28

This excerpt taken from the BP 20-F filed Jun 30, 2005.

Deferred tax

 
   At December 31,
 
 
   2004
  2003
 
 
   ($ million)
 
Analysis of provision:          
  Depreciation   15,936   15,613  
  Other taxable timing differences   2,090   1,882  
  Petroleum revenue tax   (578 ) (601 )
  Decommissioning and other provisions   (2,142 ) (2,256 )
  Pensions and other postretirement benefits   (1,720 ) (1,652 )
  Tax credit and loss carry forward   (51 ) (105 )
  Other deductible timing differences   (205 ) (162 )
   
 
 
Deferred tax provision   13,330   12,719  
   
 
 
of which — UK   3,932   4,179  
               — Overseas   9,398   8,540  
   
 
 

Analysis of movements during the year:
 
 
 
 
 
  At January 1   12,719   10,894  
  Exchange adjustments   329   541  
  Charge for the year on ordinary activities   200   1,220  
  Charge for the year in the statement of total recognized gains and losses   89   64  
  Deletions/transfers   (7 ) —  
   
 
 
At December 31   13,330   12,719  
   
 
 
offset against — Pensions   147   172  
                       — Other postretirement benefits   1,573   1,480  
   
 
 
Disclosed as deferred taxation on the balance sheet   15,050   14,371  
   
 
 
 
   Years ended December 31,
 
 
   2004
  2003
  2002
 
 
   ($ million)
 
The charge for deferred tax on ordinary activities:              
  Origination and reversal of timing differences   200   1,220   814  
  Effect of the introduction of supplementary UK corporation tax of 10% on opening liability   —   —   355  
   
 
 
 
    200   1,220   1,169  
   
 
 
 
The charge (credit) for deferred tax in statement of total recognized gains and losses:              
  Origination and reversal of timing differences   89   64   (2,320 )
   
 
 
 

F - 29

EXCERPTS ON THIS PAGE:

20-F
Jun 13, 2006
20-F
Jun 30, 2005

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"Deferred tax" elsewhere:

STATOIL ASA (STO)
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