January 11, 2018 / 4:55 PM / in 9 months

BRIEF-SocGen to book 456 mln eur additional charges in Q4

Jan 11 (Reuters) - Societe Generale Sa:

* ‍US TAX REFORM (TAX CUTS AND JOBS ACT) ENACTED ON 22 DECEMBER 2017 REDUCED STATUTORY RATE OF US FEDERAL CORPORATE TAX RATE TO 21% WITH IMMEDIATE EFFECT FROM JANUARY 2018​

* ‍SHORT TERM ACCOUNTING IMPACT OF THIS CHANGE IN RATE AND VALUATION OF DEFERRED TAX ASSETS OF US TAX GROUP WILL RESULT IN A CHARGE OF USD -307 MILLION TO BE RECORDED IN Q4 17​

* SAYS GOT RECEIPT OF A PROPOSAL FOR RECTIFICATION FOLLOWING A TAX AUDIT OF FRENCH TAX ADMINISTRATION ON VARIOUS OPERATING TAXES AND FINANCIAL CONSEQUENCES OF JUDGMENT OF PARIS COURT OF APPEAL OF 21 DECEMBER 2017 RESULT IN A CHARGE OF AROUND EUR -200 MILLION IN OPERATING EXPENSES IN Q4 17​

* SAYS ‍THESE ITEMS WILL NOT AFFECT DIVIDEND POLICY PREVIOUSLY COMMUNICATED​ Further company coverage:

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