13. Income Tax
The 30.7 percent (2007/2008: 30.7 percent) income tax rate for domestic companies consists of corporation tax at 15.0 percent (2007/2008: 15.0 percent), 5.5 percent solidarity surcharge (2007/2008: 5.5 percent) and German trade tax at 14.9 percent (2007/2008: 14.9 percent).
Deferred tax for foreign companies is computed on the basis of local tax rates.
Income tax for financial year 2008/2009 (2007/2008) is made up as follows:
|
1 October to 30 September |
||
|
in EUR thousand |
2008/2009 |
2007/2008 |
|
Current income tax |
||
|
Germany |
–824 |
–8,288 |
|
Other countries |
–9,315 |
–16,359 |
|
Sub-total |
–10,139 |
–24,647 |
|
Deferred tax |
||
|
Germany |
9,173 |
–18,671 |
|
Other countries |
52 |
370 |
|
Sub-total |
9,225 |
–18,300 |
|
Total |
–914 |
–42,947 |
The reported income tax figure differs from expected income tax expenses based on the 30.7 percent aggregate German income tax rate (2007/2008: 30.7 percent) for the reasons set out in the following:
|
1 October to 30 September |
||
|
in EUR thousand |
2008/2009 |
2007/2008 |
|
Earnings before tax (EBT) |
2,075 |
123,777 |
|
Group tax rate (%) |
30.7% |
30.7% |
|
Expected income tax expenses |
–637 |
–38,000 |
|
Differences due to foreign tax rates |
1,341 |
212 |
|
Additions/deductions due to German trade tax |
–198 |
–419 |
|
Effects of losses carried forward/valuation allowances |
91 |
–2,210 |
|
Tax-free income |
290 |
467 |
|
Non-deductible expenses |
–1,676 |
–1,325 |
|
Effects of German tax audit |
–4,000 |
–3,239 |
|
Effects of changes in income tax rates |
26 |
–60 |
|
Income tax of prior years |
–233 |
2,869 |
|
Permanent differences |
1,815 |
–107 |
|
Other |
2,267 |
–1,135 |
|
Current income tax |
–914 |
–42,947 |
|
Effective tax rate (%) |
44.1% |
34.7% |
The effects of German tax audit sub-item mainly relates to adjustments to deferred taxes following tax audits.
