6.1. Income tax
In € thousand |
||||
Actual tax – reporting year1) |
100,970 |
74,563 |
||
Actual tax – previous year |
5,570 |
26,097 |
||
Deferred tax |
–13,443 |
–6,977 |
||
Total |
93,097 |
93,684 |
||
|
||||
An expected Group tax rate of 23 per cent (2024: 24 per cent) was generally applied in all segments. National tax regulations in conjunction with life insurance profit participation may lead to a different calculated income tax rate.
In € thousand |
||||
Earnings before taxes |
516,358 |
441,865 |
||
Expected tax expenses1) |
118,762 |
101,629 |
||
Adjusted by tax effects from |
|
|
||
Tax-free investment income |
–36,665 |
–32,291 |
||
Tax-neutral consolidation effect |
–1,135 |
–970 |
||
Other non-deductible expenses/other tax-exempt income |
917 |
–1,209 |
||
Changes in tax rates |
0 |
–533 |
||
Deviations in tax rates |
–18,840 |
–11,595 |
||
Tax deducted at source |
4,223 |
2,930 |
||
Taxes for previous years |
7,454 |
24,746 |
||
Lapse/impairment of loss carryforwards and other |
18,381 |
10,977 |
||
Income tax expenses |
93,097 |
93,684 |
||
Average effective tax burden (in per cent) |
18.0 |
21.2 |
||
|
||||
As UNIQA’s annual revenue exceeds the threshold of €750 million which is relevant for applying the global minimum tax rate, UNIQA is subject to the 15 per cent global minimum tax rates for corporate groups that have been in force since 1 January 2024.
Group taxation
In Austria, UNIQA exercises the option of forming a group of companies for tax purposes. There are two tax groups with the parent companies UNIQA Insurance Group AG and Mavie Med Holding GmbH.
The group members are generally charged or relieved by the corporation tax amounts attributable to them by the parent groups through the distribution of their tax burden in the tax group. Losses from foreign group members are also included within the scope of taxable profits. The tax realisation for these losses is accompanied by a future tax obligation to pay income taxes at an unspecified point in time. A corresponding provision is therefore formed for future subsequent taxation of foreign losses.