| (in millions of euros) | 2025 | 2024 |
|---|---|---|
| Current income tax expense for the period | Current income tax expense for the period 2025 (477) |
Current income tax expense for the period 2024 (568) |
| Current tax income/(expense) for previous years | Current tax income/(expense) for previous years 2025 10 |
Current tax income/(expense) for previous years 2024 (2) |
| Total tax income/(expense) | Total tax income/(expense) 2025 (467) |
Total tax income/(expense) 2024 (570) |
| Deferred tax income/(expense) | Deferred tax income/(expense) 2025 (108) |
Deferred tax income/(expense) 2024 15 |
| Changes in unrecognized deferred tax assets | Changes in unrecognized deferred tax assets 2025 (2) |
Changes in unrecognized deferred tax assets 2024 6 |
| Total net deferred tax income/(expense) | Total net deferred tax income/(expense) 2025 (110) |
Total net deferred tax income/(expense) 2024 21 |
| Income taxes | Income taxes 2025 (577) |
Income taxes 2024 (549) |
On July 4, 2025, a major budget bill was enacted in the United States, known as the One Big Beautiful Bill Act. Among other measures, it introduces tax provisions that apply retroactively as from January 1, 2025. The legislation provides for the extension of existing tax-relief mechanisms, adjustments to tax depreciation rules, and targeted modifications to certain tax credits. While its entry into force does not have a significant impact on the effective tax rate, it has a favorable effect of approximately euro 98 million (dollar 111 million) on the amount of tax paid.
In addition, the exceptional contribution introduced by the 2025 French Finance Act (“Loi de Finances 2025”) raises the theoretical tax rate applicable to the Company from 25.8% to 30.97%. However, since this measure has no impact due to the existence of tax loss carryforwards and the negative taxable result of the Company French tax-consolidation group in 2025, the tax rate applied to the Company remains 25.8%.
Lastly, the impact of the OECD’s international tax reform, known as Pillar Two, amounts to approximately euro 1 million.
