Income taxes include income taxes paid and owed as well as deferred taxes (+ income tax expense / – income tax benefit).
|
|
2020/21 |
|
2021/22 |
|---|---|---|---|---|
|
|
|
|
|
Current tax expense |
|
54.2 |
|
304.2 |
Effective tax expense |
|
85.9 |
|
300.9 |
Adjustments of taxes from previous periods |
|
–27.8 |
|
3.6 |
Recognition of tax losses from previous periods |
|
–3.9 |
|
–0.3 |
|
|
|
|
|
Deferred tax expense |
|
–75.1 |
|
5.9 |
Origination/reversal of temporary differences |
|
–71.6 |
|
17.3 |
Adjustments of taxes from previous periods |
|
31.8 |
|
1.0 |
Impact of changes in tax rates |
|
–1.2 |
|
2.7 |
Recognition of tax losses from previous periods |
|
–34.1 |
|
–15.1 |
|
|
|
|
|
|
|
–20.9 |
|
310.1 |
|
|
|
|
|
In millions of euros |
||||
In particular, the effects of the changes in tax rates in the amount of EUR 2.7 million (2020/21: EUR –1.2 million) concern deferred taxes from Austrian companies due to the reduction in the corporate income tax rate enacted by law.
The following reconciliation shows the difference between the Austrian corporate tax rate of 25% and the effective Group tax rate:
|
|
2020/211 |
|
2021/22 |
||||
|---|---|---|---|---|---|---|---|---|
|
|
|
|
|
|
|
|
|
Profit before tax |
|
|
|
235.1 |
|
|
|
1,382.5 |
Income tax expense (+)/benefit (–) using the Austrian corporate tax rate |
|
25.0% |
|
58.8 |
|
25.0% |
|
345.6 |
Difference to foreign tax rates |
|
–2.0% |
|
–4.8 |
|
–0.4% |
|
–5.3 |
Non-taxable income |
|
–7.0% |
|
–16.5 |
|
–2.9% |
|
–40.2 |
Non-taxable income from equity investments |
|
–1.7% |
|
–3.9 |
|
–0.6% |
|
–8.6 |
Effects of depreciation of equity investments and utilization of previously unincluded loss carryforwards and non-recognition of loss carryforwards |
|
–37.4% |
|
–87.9 |
|
–1.0% |
|
–13.5 |
Taxes from previous periods |
|
1.7% |
|
4.0 |
|
0.3% |
|
4.6 |
Non-tax-effective impairment of goodwill |
|
2.7% |
|
6.3 |
|
0.0% |
|
0.0 |
Non-deductible expenses and other differences |
|
9.8% |
|
23.1 |
|
2.0% |
|
27.5 |
Effective Group tax rate (%)/income tax expense (+)/income tax benefit (–) |
|
–8.9% |
|
–20.9 |
|
22.4% |
|
310.1 |
|
||||||||
|
|
|
||||||
In millions of euros |
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