12. Income Tax
The 30.7 percent (2008/2009: 30.7 percent) income tax rate for domestic companies consists of corporation tax at 15.0 percent (2008/2009: 15.0 percent) plus the supplementary 5.5 percent solidarity surcharge (2008/2009: 5.5 percent) and German trade tax at an average of 14.9 percent (2008/2009: 14.9 percent).
Current and deferred tax at foreign companies is computed on the basis of local tax rates.
Income tax for financial year 2009/2010 (2008/2009) is made up as follows:
|
1 October to 30 September |
||
|
|
2009/2010 |
2008/2009 |
|
Current income tax |
||
|
Germany |
–2,563 |
–824 |
|
Other countries |
–10,018 |
–9,315 |
|
Subtotal |
–12,581 |
–10,139 |
|
Deferred tax |
||
|
Germany |
–1,978 |
9,173 |
|
Other countries |
461 |
52 |
|
Subtotal |
–1,517 |
9,225 |
|
Total |
–14,098 |
–914 |
The reported income tax figure differs from expected income tax expenses based on the 30.7 percent aggregate German income tax rate for the reasons set out in the following:
|
1 October to 30 September |
||
|
|
2009/2010 |
2008/2009 |
|
Earnings before tax (EBT) |
41,857 |
2,075 |
|
Group tax rate (%) |
30.7 |
30.7 |
|
Expected income tax expenses |
–12,850 |
–637 |
|
Differences due to foreign tax rates |
1,371 |
1,341 |
|
Additions/deductions due to German trade tax |
–44 |
–198 |
|
Effects of losses carried forward/valuation allowances |
173 |
91 |
|
Tax-free income |
1,696 |
290 |
|
Non-deductible expenses |
–1,191 |
–1,676 |
|
Effects of changes in income tax rates |
–47 |
26 |
|
Income tax of prior years |
–1,988 |
–233 |
|
Permanent differences |
1,639 |
1,815 |
|
Other |
–2,857 |
–1,733 |
|
Current income tax |
–14,098 |
–914 |
|
Effective tax rate (%) |
33.7 |
44.1 |
