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).