Annual Report 2009/10 Excellence in Retailing - Douglas Holding

15. Income taxes
Income taxes
2009/10
(in EUR m)
2008/09
(in EUR m)
Income taxes 58.5 54.0
National 41.1 41.4
International 17.4 12.6
Deferred taxes −3.4 −12.9
From temporary differences 4.7 −10.6
From loss carryforwards −8.1 −2.3
Total 55.1 41.1
The statutory corporate income tax rate in Germany for the assessment period 2009/10
totaled 15 percent. Including trade tax and the solidarity surcharge, this resulted in taxes
totaling 32.0 percent. Deferred taxes for the German Group companies were also generally
measured at 32.0 percent (previous year: 32.0 percent). For foreign companies, a countryspecific
average tax rate is generally applied.
In accordance with current tax provisions, the current imputed corporation tax credits
as of December 31, 2006 were stated at Fair Value through profit and loss. As of September
30, 2010 the corporate income tax credit amounted to 9.3 million EUR (previous year:
8.4 million EUR). The corporate income credit is shown in the balance sheet under noncurrent
tax receivables.
An amount of -0.1 million EUR (previous year: 0.7 million EUR) was recognized directly
to equity under a separate component of equity.
No deferred tax assets were recognized for tax losses carried forward of individual
Group companies totaling 24.5 million EUR (previous year: 27.9 million EUR). Of this
amount, none was used in the fiscal year under review (previous year: nil).
The reconciliation from the expected tax expense to the effective tax expense is as follows:
Tax reconciliation
Financial statements
Facts & figures
Consolidated income statement
Consolidated balance sheet
Statement of changes in Group equity
Segment reporting
Consolidated Cash Flow statement
Notes
Notes to the income statement
Notes to the balance sheet
Auditor’s report
2009/10 2008/09
Earnings before taxes EUR m 131.2 103.9
Consolidated income tax rate (national incl. trade tax) in % 32.0 32.0
Expected tax expense EUR m 42.0 33.2
Impact of different national tax rates EUR m −4.7 −4.3
Non-period tax income/expense EUR m 8.5 1.0
Tax-exempt income EUR m 0.0 −1.8
Non-deductible tax operating expenses EUR m 1.7 3.0
Financial expenses – minority options EUR m 0.6 1.1
Unreported deferred tax assets due to operating losses EUR m 2.1 4.8
Unreported deferred tax assets due to goodwill impairment EUR m 5.4 1.6
Write-ups on deferred taxes/use of unrecognized loss carryforwards EUR m 0.0 0.0
Trade tax (additions/deductions) EUR m 0.5 2.7
Other EUR m −1.0 −0.2
Effective tax expense EUR m 55.1 41.1
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