9 Tax expenses
| Download |
in CHF thousands |
2017 |
2016 |
+/– % |
|||||
|---|---|---|---|---|---|---|---|---|
|
||||||||
Current taxes |
−17'034 |
−11'024 |
54.5 |
|||||
Deferred taxes * |
−4'097 |
1'470 |
|
|||||
Total tax expenses |
−21'131 |
−9'554 |
121.2 |
|||||
The actual net payments made by the LLB Group for domestic and foreign corporate profit taxes amounted to CHF 9.7 million for the financial year 2017 (previous year: CHF 7.6 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:
| Download |
in CHF thousands |
2017 |
2016 |
+/– % |
|||
|---|---|---|---|---|---|---|
Operating profit before tax |
132'389 |
113'423 |
16.7 |
|||
Assumed average income tax rate of 12.5 % (2016: 11.5 %) |
−16'549 |
−13'044 |
26.9 |
|||
|
|
|
|
|||
Increase / (Decrease) resulting from |
|
|
|
|||
Use of non-capitalised losses carried forward |
1'193 |
405 |
194.6 |
|||
Effect of taxes calculated at tax rates other than the assumed tax rate |
−1'544 |
1'891 |
|
|||
Tax savings / (charges) from previous years |
−4'266 |
953 |
|
|||
Other differences |
34 |
241 |
−85.9 |
|||
Total tax expenses |
−21'131 |
−9'554 |
121.2 |
The assumed average tax burden is based on the domestic tax rate in Liechtenstein.