Income tax includes income taxes paid and owed as well as deferred taxes (+ income tax expense/– income tax benefit).
| (XLS:) Download |
|
|
|
2010/11 |
|
2011/12 |
|
|
|
|
|
|
|
Current tax expense |
|
163.6 |
|
106.4 |
|
Effective tax expense |
|
161.4 |
|
108.7 |
|
Adjustments of taxes from previous periods |
|
2.2 |
|
–2.3 |
|
|
|
|
|
|
|
Deferred tax expense |
|
22.8 |
|
–15.3 |
|
Origination/reversal of temporary differences |
|
44.9 |
|
–7.1 |
|
Impact of changes in tax rates |
|
–0.5 |
|
0.2 |
|
Recognition of tax losses from previous periods |
|
–21.6 |
|
–8.4 |
|
|
|
|
|
|
|
|
|
186.4 |
|
91.1 |
|
|
|
|
|
|
|
|
|
In millions of euros | ||
The changes in tax rates apply solely to foreign taxes.
The following reconciliation shows the difference between the Austrian corporate tax rate of 25% and the effective Group tax rate:
| (XLS:) Download |
|
|
|
2010/11 |
|
2011/12 | ||||
|
|
|
|
|
|
|
|
|
|
|
Profit before tax |
|
|
|
781.0 |
|
|
|
504.4 |
|
Income tax using the Austrian corporate tax rate |
|
25.0% |
|
195.3 |
|
25.0% |
|
126.1 |
|
Difference to foreign tax rates |
|
1.1% |
|
8.5 |
|
2.6% |
|
13.1 |
|
Non-taxable income and expenses |
|
1.4% |
|
11.1 |
|
–3.4% |
|
–17.0 |
|
Non-taxable income from participations |
|
–1.1% |
|
–8.8 |
|
–1.5% |
|
–7.4 |
|
Effects of depreciation of investments and utilization of previously unrecognized losses carried forward |
|
0.5% |
|
4.0 |
|
–4.5% |
|
–22.8 |
|
Taxes from previous periods |
|
0.3% |
|
2.7 |
|
–1.5% |
|
–7.5 |
|
Own shares |
|
0.1% |
|
0.8 |
|
0.2% |
|
1.0 |
|
Hybrid bond |
|
–2.3% |
|
–18.2 |
|
–3.6% |
|
–18.0 |
|
Other differences |
|
–1.1% |
|
–9.0 |
|
4.8% |
|
23.6 |
|
Effective Group tax rate (%)/ |
|
23.9% |
|
186.4 |
|
18.1% |
|
91.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
In millions of euros | ||
|
|
|
|
|
|
|
|
|
|
In Austria, dividends (interest) on hybrid capital represent a tax-deductible expense. The tax reduction is recognized through profit and loss and results in a decrease of the Group income tax expenses.
