Allan, tell me you're taking the piss, because you certainly don't appear to be stupid. The 13% you mention is one of the biggest con jobs we've been sold, simply because they take the gross income and apply the tax paid, making no adjustments for legal write downs. Please don't add more smoke to the already cloudy way they try to calculate taxes just to sell news. Just like your average Joe PAYG worker does, corporations take their deductions away then pay tax on the net (before tax) income, albeit on a much larger scale.