Service-oriented - Die Schweizerische Post

12 Financial income
Annual Report | Financial Report | Financial statements of Swiss Post Group
CHF m Note
117
2006 2005
Interest income on other loans 22 12 11
Other financial income 2 1
Total financial income 14 12
Income from PostFinance’s financial services business is posted as “Income from financial services”.
13 Financial expenses
CHF m Note
2006 2005
Interest expense on other financial liabilities 26 3 2
Present value adjustments to provisions 27 4 5
Interest charges on finance leases 26 0 0
Impairment on other loans 22 1 2
Other financial expenses 3 0
Total financial expenses 11 9
CHF m
Expenses arising from PostFinance’s financial services business are posted as “Expenses for financial services”.
14 Income taxes
2006 2005
Expense for current income taxes 9 8
Income from deferred income taxes – 7 – 4
Total expenses for income taxes 2 4
With the exception of profits from competitive services, the vast majority of the parent’s business is not subject
to tax. However, the proportion of taxable services could rise in future as a result of liberalization.
As the vast majority of Swiss Post’s business is not subject to tax, tax expenses are not analysed in relation to
pre­tax profits.
Tax loss carryforwards of 254 million francs (2005: 358 million francs) were not recognized as assets at
Swiss Post Group, as it seems uncertain that they will be utilized in the future. Potential tax savings amount to
62 million francs (2005: 87 million francs). Tax loss carryforwards expire after seven years.
Deferred tax assets of 20 million francs (2005: 10 million francs) comprise tax loss carryforwards and employee
benefit reserves on the basis of IAS 19 that are not accepted for tax purposes. Deferred tax liabilities of
14 million francs (2005: 3 million francs) were mainly the result of temporary differences between the carrying
amounts and tax base of property, plant and equipment and other liabilities.