IAS 12, IAS 7 additional information reconciling tax charge to cash tax paid

InterContinental Hotels Group PLC – Annual report – 31 December 2020

Industry: leisure 

8. Tax (extract)

Tax paid

Total net tax paid during the year of $41m (2019: $141m, 2018: $68m) comprises $41m (2019: $141m, 2018: $66m) paid in respect of operating activities and $nil (2019: $nil, 2018: $2m) paid in respect of investing activities.

The total tax paid includes, in respect of the US:

  • payments of $29m (2019: $80m, 2018: $54m); and
  • refunds arising from earlier periods of $24m (2019: $nil, 2018: $34m);

and in respect of the UK:

  • payments of $2m (2019: $13m, 2018: $23m); and
  • refunds arising from earlier periods of $nil (2019: $nil, 2018: $11m).
  •  

A reconciliation of tax paid to the total tax charge in the Group income statement is as follows:

a Tax contingency movements are included within the current tax charge but do not impact cash tax paid in the year. Settlement of tax contingencies are included within cash tax paid in the year but not recorded in the current year tax charge.