Income taxes include income taxes paid and owed as well as deferred taxes (+ income tax expense/– income tax benefit).
|
|
2022/23 |
|
2023/24 |
|---|---|---|---|---|
|
|
|
|
|
Current tax expense |
|
310.0 |
|
118.2 |
Effective tax expense |
|
286.7 |
|
131.9 |
Adjustments of taxes from previous periods |
|
23.4 |
|
–13.7 |
Recognition of tax losses from previous periods |
|
–0.1 |
|
0.0 |
|
|
|
|
|
Deferred tax expense |
|
95.5 |
|
49.6 |
Origination/reversal of temporary differences |
|
112.3 |
|
50.2 |
Adjustments of taxes from previous periods |
|
–2.1 |
|
17.9 |
Impact of changes in tax rates |
|
–0.2 |
|
0.1 |
Recognition of tax losses from previous periods |
|
–14.5 |
|
–18.6 |
|
|
|
|
|
|
|
405.5 |
|
167.8 |
|
|
|
|
|
In millions of euros |
||||
The following reconciliation shows the difference between the Austrian corporate tax rate of 23.75% (previous year: 24.75%) and the effective Group tax rate:
|
|
2022/23 |
|
2023/24 |
||||
|---|---|---|---|---|---|---|---|---|
|
|
|
|
|
|
|
|
|
Profit before tax |
|
|
|
1,489.4 |
|
|
|
383.4 |
Income tax expense (+)/benefit (–) using the Austrian corporate tax rate |
|
24.75% |
|
369.0 |
|
23.8% |
|
91.1 |
Difference to foreign tax rates |
|
0.0% |
|
0.3 |
|
–3.1% |
|
–11.9 |
Non-taxable income |
|
–1.5% |
|
–23.0 |
|
–3.8% |
|
–14.6 |
Non-taxable income from equity investments |
|
–0.5% |
|
–7.3 |
|
–1.3% |
|
–5.0 |
Effects of depreciation of equity investments and utilization of previously unincluded loss carryforwards and non-recognition of loss carryforwards |
|
–0.2% |
|
–3.0 |
|
3.4% |
|
12.9 |
Effects of non-recognition and subsequent recognition of deductible temporary differences |
|
0.0% |
|
0.0 |
|
12.7% |
|
48.7 |
Taxes from previous periods |
|
1.4% |
|
21.3 |
|
1.1% |
|
4.2 |
Non-tax-effective impairment |
|
2.5% |
|
37.3 |
|
13.9% |
|
53.4 |
Non-deductible expenses and other differences |
|
0.7% |
|
10.9 |
|
–2.8% |
|
–11.0 |
Effective Group tax rate (%)/income tax expense (+)/income tax benefit (–) |
|
27.2% |
|
405.5 |
|
43.9% |
|
167.8 |
|
||||||||
In millions of euros |
||||||||
The eco-social tax reform adopted in Austria as of February 14, 2022, provides for a reduction of 24% in the corporate income tax rate, to be applied to the first three quarters of the business year, as well as a reduction of 23% to be applied to the last quarter of the business year. This results in a corporate tax rate of 23.75%.
