37. Income taxes
In € thousand |
1-12/2016 |
1-12/2015 |
Actual tax – reporting year |
61,847 |
78,525 |
Actual tax – previous years |
–11,944 |
–11,086 |
Deferred tax |
–27,093 |
12,844 |
Total |
22,810 |
80,283 |
In € thousand |
1-12/2016 |
1-12/2015 |
||
|
||||
Earnings before taxes |
225,533 |
397,818 |
||
Expected tax expenses1) |
56,383 |
99,455 |
||
Adjusted by tax effects from |
|
|
||
Tax-free investment income |
–11,513 |
–8,266 |
||
Amortisation of goodwill and impairment losses |
4,148 |
3,270 |
||
Tax-neutral consolidation effect |
447 |
321 |
||
Other non-deductible expenses/other tax-exempt income |
3,931 |
5,397 |
||
Changes in tax rates |
–1,054 |
0 |
||
Deviations in tax rates |
–5,751 |
–4,764 |
||
Taxes for previous years |
–20,318 |
–11,086 |
||
Lapse of loss carried forward and other |
–3,463 |
–4,044 |
||
Income tax expenses |
22,810 |
80,283 |
||
Average effective tax burden In per cent |
10.1 |
20.2 |
||
The basic corporate income tax rate applied for all segments was 25 per cent. National tax regulations in conjunction with life insurance profit participation may lead to a higher than calculated tax rate on profits.
The calculation of deferred tax is based on the specific tax rates of each country, which were between 9 and 25 per cent in this financial year (2015: between 9 and 34 per cent). Changes in tax rates in effect at 31 December 2016 are taken into account.