“The tax rate to be considered, for the purpose of the calculation of the cost-of-capital rate, corresponds to the nominal tax rate.”
Maintaining the methodology described above, defined in the 2013 determination, and taking into consideration the calculation carried out by Mazars, applicable to the 2016 financial year, a tax rate by 29.50% was obtained (vide table 8), the detailed calculation of which may be consulted at Mazars’ report in annex to this DD.
|
Tax rate |
||
|
IRC Code |
Article 87 IRC rate |
21.00% |
|
Article 87 State surtax rate |
7.00% |
|
|
Municipal surtax |
1.50% |
|
|
Tax rate |
29.50% |
|
Source: Mazars Report
