2005 Annual Report Julius Baer Holding Ltd. - GAM Holding AG
2005 Annual Report Julius Baer Holding Ltd. - GAM Holding AG
2005 Annual Report Julius Baer Holding Ltd. - GAM Holding AG
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7 Taxes<br />
Notes<br />
2004 <strong>2005</strong> Change Change<br />
CHF 1000<br />
restated<br />
CHF 1000 CHF 1000 %<br />
Income tax on profit before taxes 61877 43397 -18480 -29.9<br />
Tax rate difference on income components subject to foreign taxation -17807 -12250 5557 31.2<br />
Tax rate difference from local differences in domestic tax rates 859 7700 6841 796.4<br />
Effect of utilization of prior-year losses -3527 -2000 1527 43.3<br />
Effect from not capitalized losses 4768 5561 793 16.6<br />
Adjustments related to prior years - -7122 -7122<br />
Non-tax-deductible expenses 2303 6693 4390 190.6<br />
Other influences 1472 1894 422 28.7<br />
Total 49945 43873 -6072 -12.2<br />
A tax rate of 23% (2003: 24%) was employed in the calculation of income tax in Switzerland. Not capitalized accumulated deficits<br />
brought forward in the amount of CHF 105.2 million (2004: CHF 57.5 million) exist in the Group that can be asserted for more than<br />
five years.<br />
Domestic taxes 35280 13280 -22000 -62.4<br />
Foreign taxes 14665 30593 15928 108.6<br />
Total 49945 43873 -6072 -12.2<br />
Current tax liabilities 51657 66561 14904 28.9<br />
Deferred taxes -1712 -22688 -20976 -1225.2<br />
Total 49945 43873 -6072 -12.2<br />
JULIUS BAER GROUP 97
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