9 Tax expenses

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in CHF thousands

2014

2013

+/– %

*

See note 27 for details.

Current taxes

−11'205

−6'989

60.3

Deferred taxes *

12'746

−164

 

Total tax expenses

1'542

−7'153

 

The actual net payments made by the LLB Group for domestic and foreign corporate profit taxes amounted to CHF 7.9 million for the full year 2014 and of CHF 5.3 million for the full year 2013.

The tax on pre-tax Group profit deviates from the theoretical amount, calculated on the basis of the weighted average Group tax rate on profit before tax, as follows:

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in CHF thousands

2014

2013

+/– %

Operating profit before tax

71'063

60'925

16.6

Assumed average income tax rate of 11.5 % (2013: 11.5 %)

−8'172

−7'006

16.6

 

 

 

 

Increase / (decrease) resulting from

 

 

 

Use of tax losses carried forward

−29

−509

−94.3

Use of non-capitalised losses carried forward

151

0

 

Non-tax-deductible expenses / (tax-exempt earnings)

8'286

192

 

Other differences

1'306

170

668.2

Total tax expenses

1'542

−7'153

 

The assumed average tax burden is based on the average applicable tax rates for the individual companies or the individual tax jurisdictions weighted according to the total contributions of the individual companies.

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