18 Jul 2019 07:00
RNS Number : 9017F
BAE SYSTEMS PLC
18 July 2019
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18 July 2019
BAE Systems plc - Tax provisions
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BAE Systems announces that following agreements reached in respect of overseas tax matters a one off non-cash benefit has been recognised to 2019 earnings per share. In addition, following review of April's EU Commission's decision that concluded the UK's Controlled Foreign Company regime partially represents State Aid, the Group has recognised a provision for the estimated exposure.
As a result of the above, a net earnings per share benefit of circa 5p arises which is additional to the current 2019 underlying earnings per share guidance.
These items are not expected to have a material impact on the underlying tax rate in future years.
Issued by:
BAE Systems plc
London
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BAE Systems (BA.)