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Annual Review 2002/2003
 
 
Notes to the financial statements « back
4 Taxation
4b Factors affecting the tax charge
The BBC World Service taxation charge is based primarily on interest receivable. The tax assessed for the year is therefore significantly lower than the standard rate of corporation tax in the UK (30%), as explained below.
Note 2003
£m
2002
£m
Surplus before taxation 8.5 10.0
Surplus before taxation multiplied by the standard rate of corporation tax in the UK of 30% (2002 30%) 2.5 3.0
Effect of non-taxable external income/deductible costs (2.3 ) (2.8 )
Current tax charge for the year 4a 0.2 0.2
 
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