Annual Financial Statement P&I Personal & Informatik AG April 1 ...

Telecommunications costs 613 556
Loss from the accretion of ZHS 0 543
Other 3,494 2,343
Total 12,100 10,171
5. FINANCIAL RESULTS
Other interest and similar income amounted to 470,000 euros (previous year: 256,000 euros)
and this included the interest income from short-term cash and cash equivalent investments
as well as the interest accrued on current account balances at the banks. Interest income
from the discounting and the interest payable from the interest accrued from long-term
reserves was posted for the first time in the fiscal year that has just ended as a result of the
amended valuation methods imposed by BilMoG. The interest income from the discounting
of long-term reserves amounted to 33,000 euros (previous year: 0 euros). The interest
expenses for the interest accrued from long-term reserves amounted to 25,000 euros
(previous year: 0 euros).
6. TAXES ON INCOME AND EARNINGS
Income taxes are broken down as follows
2010/2011
'000 euros
2009/2010
'000 euros
Income tax – current year
Corporation tax 2,309 2,300
Business tax 2,319 2,330
Solidarity surcharge 126 127
Income tax - previous years -79 -9
Deferred income tax expense 244 0
Deferred income tax benefit -55 0
Total 4,864 4,747
A tax liability (79,000 euros) arising from income tax adjustments made for the previous year
as a result of the adjustments caused by the capitalised corporation tax credit pursuant to
§37 of the German Corporate Income Tax Act (KStG.) is due.
Deferred tax expenses and tax amounts arose for the first time in the fiscal year that has just
ended as a result of the implementation of the BilMoG. The expenses and income include
the significant deferred taxes accrued from our customer base.
The deferred taxes were assessed at P&I Personal & Informatik AG using an overall income
tax rate that amounted to 31.23 per cent (previous year: 31.23 per cent).
The offsetting of assets and deferred taxes resulted in a tax charge for the reporting year that
amounted to 189,000 euros.
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