Income taxes include income taxes paid and owed as well as deferred taxes (+ income tax expense/ – income tax benefit).
|
|
2017/18 |
|
2018/19 |
|
|
|
|
|
Current tax expense |
|
227.5 |
|
153.8 |
Effective tax expense |
|
234.4 |
|
168.6 |
Adjustments of taxes from previous periods |
|
–8.7 |
|
–14.1 |
Recognition of tax losses from previous periods |
|
1.8 |
|
–0.7 |
|
|
|
|
|
Deferred tax expense |
|
–10.4 |
|
33.3 |
Origination/reversal of temporary differences |
|
–20.6 |
|
29.9 |
Adjustments of taxes from previous periods |
|
7.2 |
|
8.6 |
Impact of changes in tax rates |
|
10.2 |
|
2.2 |
Recognition of tax losses from previous periods |
|
–7.2 |
|
–7.4 |
|
|
|
|
|
|
|
217.1 |
|
187.1 |
|
|
|
|
|
In millions of euros |
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The effects of the changes in tax rates in the amount of EUR 2.2 million (2017/18: EUR 10.2 million) concern solely foreign taxes. The actual tax expense was reduced by the income tax effect of EUR –7.5 million from hybrid capital payments (2017/18: EUR –7.5 million).
The following reconciliation shows the difference between the Austrian corporate tax rate of 25% and the effective Group tax rate:
|
|
2017/18 |
|
2018/19 |
||||
|
|
|
|
|
|
|
|
|
Profit before tax |
|
|
|
1,042.5 |
|
|
|
645.7 |
Income tax expense using the Austrian corporate tax rate |
|
25.0% |
|
260.6 |
|
25.0% |
|
161.4 |
Difference to foreign tax rates |
|
0.1% |
|
1.4 |
|
–0.5% |
|
–3.6 |
Non-taxable income and expenses |
|
–1.8% |
|
–19.2 |
|
–3.8% |
|
–24.5 |
Non-taxable income from investments |
|
–0.5% |
|
–4.8 |
|
–0.7% |
|
–4.4 |
Effects of depreciation of investments and utilization of previously unincluded loss carryforwards and non-recognition of loss carryforwards |
|
–4.1% |
|
–43.0 |
|
1.5% |
|
9.6 |
Taxes from previous periods |
|
–0.1% |
|
–1.5 |
|
–0.9% |
|
–5.5 |
Hybrid capital |
|
–0.7% |
|
–7.5 |
|
–1.2% |
|
–7.5 |
Other differences |
|
3.0% |
|
31.1 |
|
9.6% |
|
61.6 |
Effective Group tax rate (%)/income tax expense |
|
20.8% |
|
217.1 |
|
29.0% |
|
187.1 |
|
|
|
|
|
|
|
|
|
In millions of euros |
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