Income tax includes income taxes paid and owed as well as deferred taxes (+ income tax expense/– income tax benefit).
|
|
2012/13 |
|
2013/14 |
|
|
|
|
|
Current tax expense |
|
93.5 |
|
96.7 |
Effective tax expense |
|
95.8 |
|
97.0 |
Adjustments of taxes from previous periods |
|
–2.1 |
|
0.4 |
Recognition of tax losses from prior periods |
|
–0.2 |
|
–0.7 |
|
|
|
|
|
Deferred tax expense |
|
39.2 |
|
36.4 |
Origination/reversal of temporary differences |
|
37.3 |
|
37.6 |
Adjustments of taxes from previous periods |
|
2.1 |
|
–3.2 |
Impact of changes in tax rates |
|
–3.3 |
|
1.0 |
Recognition of tax losses from prior periods |
|
3.1 |
|
1.0 |
|
|
|
|
|
|
|
132.7 |
|
133.1 |
|
|
|
|
|
|
|
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:
|
|
2012/13 |
|
2013/14 |
||||
|
|
|
|
|
|
|
|
|
Profit before tax |
|
|
|
654.7 |
|
|
|
656.0 |
Income tax using the Austrian corporate tax rate |
|
25.0% |
|
163.7 |
|
25.0% |
|
164.0 |
Difference to foreign tax rates |
|
0.6% |
|
3.7 |
|
1.6% |
|
10.8 |
Non-taxable income and expenses |
|
–3.1% |
|
–20.5 |
|
–2.6% |
|
–17.0 |
Non-taxable income from participations |
|
–0.8% |
|
–5.4 |
|
–0.6% |
|
–4.2 |
Effects of depreciation of investments and utilization of previously unrecognized losses carried forward and non-recognition of losses carried forward, respectively |
|
0.5% |
|
3.5 |
|
–1.2% |
|
–7.8 |
Taxes from previous periods |
|
0.0% |
|
0.1 |
|
–0.4% |
|
–2.8 |
Own shares |
|
0.1% |
|
0.5 |
|
0.0% |
|
0.2 |
Hybrid bond |
|
–2.8% |
|
–18.0 |
|
–2.7% |
|
–18.0 |
Other differences |
|
0.8% |
|
5.1 |
|
1.2% |
|
7.9 |
Effective Group tax rate (%)/income tax expense |
|
20.3% |
|
132.7 |
|
20.3% |
|
133.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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.
