2008 Annual Report Julius Baer Holding Ltd. - Julius Bär Gruppe

Notes
7 Income taxes
68 JULIUS BAER GROUP
2008 2007 Change
CHF 1000 CHF 1000 %
Income tax on profit before taxes (expected tax expense) 194 918 273 900 -28.8
Tax rate difference on income components subject to foreign taxation -2 639 1 968 -234.1
Tax rate difference from local differences in domestic tax rates -3 857 -6 379 39.5
Lower taxed income -5 746 -280 -1 952.1
Effect of utilisation of prior-year losses -460 -832 44.7
Effect from not capitalised losses 6 780 5 374 26.2
Adjustments related to prior years -6 050 -16 417 63.1
Non-deductible expenses 41 652 47 143 -11.6
Other influences -145 704 -120.6
Actual income tax expense 224 453 305 181 -26.5
A tax rate of 22% (2007: 22%) was employed in the calculation of income tax in Switzerland. Not capitalised accumulated operating
loss carry-forwards in the amount of CHF 118.4 million (2007: CHF 132.7 million) exist in the Group that do not expire.
Domestic income taxes 93 153 124 437 -25.1
Foreign income taxes 131 300 180 744 -27.4
Total 224 453 305 181 -26.5
Current income taxes 224 170 346 011 -35.2
Deferred income taxes 283 -40 830 100.7
Total 224 453 305 181 -26.5