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

9M 2013

12M 2013/14

Actual taxes

232

496

thereof Germany

(67)

(128)

thereof international

(165)

(368)

thereof tax expenses/income of current period

(240)

(473)

thereof tax expenses/income of previous periods

(−8)

(23)

Deferred taxes

28

31

thereof Germany

(−9)

(43)

thereof international

(37)

(−12)

 

260

527

The fact that figures for the reporting period cover a period of twelve months and the short financial year 2013 comprised only nine months results in limited comparability. An additional comparative period of twelve months cannot be presented in detail, as a corresponding tax calculation was not prepared for it.

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 (9M 2013: 36.15 per cent).

Deferred income tax liabilities for the financial year include gains of €2 million from changes in tax rates; the reporting period for 9M 2013 did not include any effect from changes in tax rates.

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€ million

9M 2013

12M 2013/14

Deferred taxes in the income statement

28

31

thereof from temporary differences

(21)

(89)

thereof from loss and interest carry-forwards

(7)

(−58)

At €527 million (9M 2013: €260 million), income tax expenses, which are fully included in the result from ordinary activities, are €311 million (9M 2013: €202 million) higher than the expected tax expenses of €216 million (9M 2013: €58 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

9M 2013

12M 2013/14

EBT (earnings before taxes)

189

709

Expected income tax expenses (30.53 %)

58

216

Effects of differing national tax rates

−47

−18

Tax expenses and income relating to other periods

−8

23

Non-deductible business expenses for tax purposes

77

105

Effects of not recognised or impaired deferred taxes

187

218

Additions and reductions for local taxes

16

18

Tax holidays

−8

−28

Other deviations

−15

−7

Income tax expenses according to the income statement

260

527

Group tax rate (in %)

137.81

74.32

The disproportionately high tax rate in the short financial year 2013 can largely be attributed to the lower pre-tax result that was due to the fact that the Christmas business was not included. By contrast, tax expenses were relatively high because no tax benefit from the measurement of current domestic tax losses was considered.