26 Income tax expenses
As in the previous year, the current taxes do not include any prior-period tax expenses.
Deferred tax assets on tax loss carryforwards in the amount of EUR 3 million were reversed to expenses in the financial year (previous year: expenses of EUR 3 million). Write-downs amounting to EUR 2 million on deferred tax assets (previous year: EUR 2 million) were offset by EUR 2 million in reversals of write-downs (previous year: EUR 3 million).
The following table shows a reconciliation between the reported and the expected tax expense:
|Profit before taxes||31||117|
|Expected effective income tax rate||30.7%||30.7%|
|Expected tax expense||10||36|
|Deviation due to varying foreign tax rates||-2||-4|
|Tax portion for tax-exempt income||-1||-9|
|Tax portion for non-deductible expenses||60||54|
|Non-recognition, write-downs and utilisation of tax loss carryforwards||13||8|
|Result from investments accounted for at equity||-4||-29|
|Effect of non-tax-deductible goodwill impairments||2|
|Other tax effects||-6||-4|
|Reported tax expense||59||35|
|Reported income tax rate||190.3%||29.9%|
The expected effective income tax rate comprises corporate income tax, the solidarity surcharge and trade tax as pertinent for German corporations.