11. Income taxes
Income taxes include the expected taxes on income paid or owed in the individual countries as well as deferred taxes.
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€ million |
2013/14 |
2014/15 |
Actual taxes |
489 |
444 |
thereof Germany |
(129) |
(118) |
thereof international |
(360) |
(326) |
thereof tax expenses/income of current period |
(466) |
(454) |
thereof tax expenses/income of previous periods |
(23) |
(−10) |
Deferred taxes |
50 |
36 |
thereof Germany |
(62) |
(34) |
thereof international |
(−12) |
(2) |
|
539 |
480 |
The income tax rate of the German companies of METRO GROUP consists of a corporate income tax of 15.00 per cent plus a 5.50 per cent solidarity surcharge on corporate income tax as well as the trade tax of 14.70 per cent given an average assessment rate of 420.00 per cent. All in all, this results in an aggregate tax rate of 30.53 per cent. The tax rates are unchanged from the previous year. The income tax rates applied to foreign companies are based on the respective laws and regulations of the individual countries and vary within a range of 0.00 per cent (tax holidays) to 38.00 per cent. These tax rates are also unchanged from the previous year.
Deferred tax liabilities for financial year 2014/15 comprise expenses of €4 million from changes in tax rates (2013/14: income of €2 million).
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€ million |
2013/14 |
2014/15 |
Deferred taxes in the income statement |
50 |
36 |
thereof from temporary differences |
(108) |
(−9) |
thereof from loss and interest carry-forwards |
(−58) |
(45) |
Income tax expenses of €518 million (2013/14: €527 million), which are shown fully in regular earnings, are €142 million (2013/14: €311 million) higher than expected income tax expenses of €376 million (2013/14: €216 million) that would have resulted if the German corporate income tax rate had been applied to the group’s taxable income for the year.
Reconciliation of estimated to actual income tax expenses is as follows:
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€ million |
2013/14 |
2014/15 |
EBT (earnings before taxes) |
709 |
1,232 |
from continuing operations |
536 |
259 |
from discontinued operations |
173 |
973 |
Expected income tax expenses (30.53%) |
216 |
376 |
Effects of differing national tax rates |
−18 |
−46 |
Tax expenses and income relating to other periods |
23 |
−10 |
Non-deductible business expenses for tax purposes |
105 |
99 |
Effects of not recognised or impaired deferred taxes |
218 |
200 |
Additions and reductions for local taxes |
18 |
27 |
Tax holidays |
−28 |
−22 |
Other deviations |
−7 |
−106 |
Income tax expenses according to the income statement |
527 |
518 |
from continuing operations |
539 |
480 |
from discontinued operations |
−12 |
38 |
Group tax rate |
74.3% |
42.0% |
from continuing operations |
100.6% |
185.5% |
from discontinued operations |
−6.8% |
3.8% |
The other deviations in the current year essentially include gains from the sale of the Galeria Kaufhof group (€–243 million) and expenses from impairment losses on goodwill at Real Germany (€136 million).