9 Tax expenses
|
in CHF thousands |
2022 |
2021 |
+ / – % |
|
Current taxes |
– 31'504 |
– 25'682 |
22.7 |
|
Deferred taxes |
5'993 |
133 |
|
|
Total tax expenses |
– 25'511 |
– 25'549 |
– 0.1 |
1 For further details, see note 24
The actual net payments made by the LLB Group for domestic and foreign corporate profit taxes amounted to CHF 26.5 million for the 2022 financial year (previous year: CHF 11.9 million).
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:
|
in CHF thousands |
2022 |
2021 |
+ / – % |
|
Operating profit before tax |
174'961 |
163'412 |
7.1 |
|
Assumed average income tax rate of 14.2 per cent (previous year: 13.4 %) |
– 24'760 |
– 21'921 |
12.9 |
|
|
|
|
|
|
Increase / (Decrease) resulting from |
|
|
|
|
Use of losses carried forward |
822 |
0 |
|
|
Tax savings / (charges) from previous years |
104 |
– 3'616 |
|
|
Non-tax deductible (expenses) / tax-exempt income 1 |
– 1'678 |
– 12 |
|
|
Total tax expenses |
– 25'511 |
– 25'549 |
– 0.1 |
1 These were mainly attributable to losses with equities, which were not tax deductible.
The assumed average tax burden is based on the weighted average tax rates of the individual group companies.
The increase in average tax burden is attributable to the changed profit contributions of the Group companies. In particular, the increased relative profit contribution of LLB (Österreich) AG in 2022 led to a higher assumed average tax burden in comparison with the previous year.
As at 31 December 2022, there were losses carried forward amounting to CHF 38 million, which were not reported as deferred tax receivables (previous year: CHF 84 million). They expire within the next six years. In general, tax losses can be carried forward for seven years in Switzerland, and indefinitely in the Principality of Liechtenstein and in Austria.