Please activate JavaScript!
Please install Adobe Flash Player, click here for download
ePaper created 2014-04-29, 17:58:02 | version 1.30.00
DEUTSCHEEUROSHOPANNUALREPORT2013/CONSOLIDATEDFINANCIALSTATEMENTS 174 28. INCOME TAX EXPENSE 2013 2012 Current tax expense -2,362 -8,483 Domestic deferred tax expense -11,636 28,791 Foreign deferred tax expense -2,572 -1,246 -16,570 19,062 In measuring deferred taxes, the tax rates applicable in accordance with IAS 12 are those valid under current legis- lation at the date at which the temporary differences will probably reverse. In 2013, a corporate tax rate of 15% was used for the companies in Germany. In addition, a solidarity surcharge of 5.5% on the calculated corporation tax and, in part, 16.45% in trade tax were recognised. The respective local tax rates were applied for foreign companies. Taxes on income and earnings include the reversal of latent trade tax liabilities in the amount of €12.6 million in deferred trade tax liabilities which had been formed in previous years. TAX RECONCILIATION Income taxes in the amount of €-16,570 thousand in the year under review are derived as follows from an expected income tax expense that would have resulted from the application of the parent company’s statutory income tax rate to the profit before tax. This was calculated using a tax rate of 32.28%. 2013 2012 Consolidated profit before income tax 187,613 103,422 Theoretical income tax 32.28% -60,561 -33,379 Tax rate differences for foreign Group companies 1,226 2,190 Tax rate differences for domestic Group companies 20,568 2,057 Tax-free income/non-deductible expenses 4,705 531 Effect of tax rate changes 12,619 49,357 Aperiodic tax income 4,843 0 Other 30 -1,694 Current income tax -16,570 19,062 After fulfilling the requirements of the extended trade tax reduction for one more property company, a portion of the deferred trade tax provisions built up during previous years in the amount of €12,619 thousand could be released. Aperiodic tax income contains a trade tax refund in the amount of €2,334 thousand. In financial year 2013, the effective income tax rate was 18.1%. This figure does not include the effect from tax rates changes and the aperiodic tax income amounting to €17,462 thousand. € THOUSAND € THOUSAND