Income taxes include income taxes paid and owed as well as deferred taxes (+ income tax expense /– income tax benefit).
|
|
2021/22 |
|
2022/23 |
|---|---|---|---|---|
|
|
|
|
|
Current tax expense |
|
304.2 |
|
310.0 |
Effective tax expense |
|
300.9 |
|
286.7 |
Adjustments of taxes from previous periods |
|
3.6 |
|
23.4 |
Recognition of tax losses from previous periods |
|
–0.3 |
|
–0.1 |
|
|
|
|
|
Deferred tax expense |
|
5.9 |
|
95.5 |
Origination/reversal of temporary differences |
|
17.3 |
|
112.3 |
Adjustments of taxes from previous periods |
|
1.0 |
|
–2.1 |
Impact of changes in tax rates |
|
2.7 |
|
–0.2 |
Recognition of tax losses from previous periods |
|
–15.1 |
|
–14.5 |
|
|
|
|
|
|
|
310.1 |
|
405.5 |
|
|
|
|
|
In millions of euros |
||||
The following reconciliation shows the difference between the Austrian corporate tax rate of 24.75% and the effective Group tax rate:
|
|
2021/22 |
|
2022/23 |
||||
|---|---|---|---|---|---|---|---|---|
|
|
|
|
|
|
|
|
|
Profit before tax |
|
|
|
1,382.5 |
|
|
|
1,490.8 |
Income tax expense (+)/benefit (–) using the Austrian corporate tax rate |
|
25.0% |
|
345.6 |
|
24.8% |
|
369.0 |
Difference to foreign tax rates |
|
–0.4% |
|
–5.3 |
|
0.0% |
|
0.3 |
Non-taxable income |
|
–2.9% |
|
–40.2 |
|
–1.5% |
|
–23.0 |
Non-taxable income from equity investments |
|
–0.6% |
|
–8.6 |
|
–0.5% |
|
–7.3 |
Effects of depreciation of equity investments and utilization of previously unincluded loss carryforwards and non-recognition of loss carryforwards |
|
–1.0% |
|
–13.5 |
|
–0.2% |
|
–3.0 |
Taxes from previous periods |
|
0.3% |
|
4.6 |
|
1.4% |
|
21.3 |
Non-tax-effective impairment |
|
0.0% |
|
0.0 |
|
2.5% |
|
37.3 |
Non-deductible expenses and other differences |
|
2.0% |
|
27.5 |
|
0.7% |
|
10.9 |
Effective Group tax rate (%)/income tax expense (+)/income tax benefit (–) |
|
22.4% |
|
310.1 |
|
27.2% |
|
405.5 |
|
||||||||
In millions of euros |
||||||||
The eco-social tax reform adopted in Austria as of February 14, 2022, provides for a reduction of 25% in the corporate income tax rate, to be applied to the first three quarters of the business year, as well as a reduction of 24% to be applied to the last quarter of the business year. This results in a corporate tax rate of 24.75%.
