Advertisement
UK markets closed

  • FTSE 100

    8,046.14
    +22.27 (+0.28%)
     

  • FTSE 250

    19,783.72
    +184.33 (+0.94%)
     

  • AIM

    755.74
    +6.56 (+0.88%)
     

  • GBP/EUR

    1.1620
    +0.0031 (+0.27%)
     

  • GBP/USD

    1.2432
    +0.0081 (+0.66%)
     

  • Bitcoin GBP

    53,520.50
    +379.98 (+0.72%)
     

  • CMC Crypto 200

    1,436.92
    +22.16 (+1.57%)
     

  • S&P 500

    5,060.43
    +49.83 (+0.99%)
     

  • DOW

    38,421.08
    +181.10 (+0.47%)
     

  • CRUDE OIL

    82.53
    +0.63 (+0.77%)
     

  • GOLD FUTURES

    2,334.80
    -11.60 (-0.49%)
     

  • NIKKEI 225

    37,552.16
    +113.55 (+0.30%)
     

  • HANG SENG

    16,828.93
    +317.24 (+1.92%)
     

  • DAX

    18,142.58
    +281.78 (+1.58%)
     

  • CAC 40

    8,110.41
    +70.05 (+0.87%)
     
Money:

What is the true cost of the UK state pension?

To get a sense of the true value of the state pension, you can look at how much you would need to save to match it yourself

SAP says one-off item to reduce 2017 tax bill

Reuters
SAP logo at SAP headquarters in Walldorf, Germany, January 24, 2017. REUTERS/Ralph Orlowski

FRANKFURT (Reuters) - German business software group SAP SE said on Friday lowered the forecast for its expected effective tax rate in 2017 to reflect the impact of an intra-group transfer of intellectual property rights.

Considering the estimated one-time benefit from the step, SAP now expects its full-year effective tax rate to be 23 to 24 percent based on international financial reporting standards, down from 26 to 27 percent previously.

Based on the non-IFRS accounting conventions it uses to present its results, the revised tax rate will be 25 to 26 percent down from 27 to 28 percent, SAP said in a statement.

SAP flagged the one-time benefit when it announced third-quarter results and the company promised to update investors once it had quantified its impact. The outlook does not consider any impact of a proposed U.S. tax reform now before Congress.

(Reporting by Douglas Busvine; Editing by Maria Sheahan)