ANNUAL REPORT 2004 - ELMOS Semiconductor AG
ANNUAL REPORT 2004 - ELMOS Semiconductor AG
ANNUAL REPORT 2004 - ELMOS Semiconductor AG
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GROUP STATUS <strong>REPORT</strong> FINANCIAL STATEMENTS GROUP STRUCTURE GLOSSARY<br />
Financial statements<br />
ÿ Notes<br />
Auditor’s certificate<br />
7. INCOME TAXES<br />
German income taxes consist of trade, corporate, and solidarity taxes. The company<br />
paid 5,246,841 Euro in <strong>2004</strong> and 10,355,900 Euro in 2003 in income taxes.<br />
The expense (income) for income taxes is composed as follows:<br />
Current tax expense<br />
<strong>2004</strong><br />
Euro<br />
Deferred incomes taxes reflect the net tax effects of temporary differences between<br />
the carrying amounts of assets and liabilities for financial reporting purposes and the<br />
amounts used for income tax purposes. Significant components of the company’s<br />
deferred tax assets and deferred tax liabilities are presented in the following table:<br />
2003<br />
Euro<br />
Germany 9,051,705 5,561,662<br />
Abroad 576,922 745,879<br />
Deferred taxes<br />
9,628,627 6,307,541<br />
Germany 167,949 1,125,004<br />
Abroad – 1,091,757 – 532,468<br />
Deferred tax assets<br />
– 923,808 592,536<br />
8,704,819 6,900,077<br />
<strong>2004</strong><br />
Euro<br />
2003<br />
Euro<br />
Marketable securities 1,817,000 372,042<br />
Lease financing 2,714,885 2,659,306<br />
Loss carry forward 12,492,863 13,269,072<br />
Others 250,495 0<br />
Deferred tax liabilities<br />
17,275,243 16,300,420<br />
Property, plant and equipment 1,151,186 1,465,552<br />
Costs for software development 2,849,313 2,118,006<br />
Others 0 7,488<br />
4,000,499 3,591,046<br />
Net deferred tax assets 13,274,744 12,709,374<br />
elmos annual report <strong>2004</strong><br />
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