9 Tax expenses

in CHF thousands

2013

2012

+/– %

*

See note 27 for details.

Current taxes

–6'989

–4'887

43.0

Deferred taxes*

–164

–8'003

–98.0

Total tax expenses

–7'153

–12'890

–44.5

The actual net payments made by the LLB Group for domestic and foreign corporate profit taxes amounted to CHF 5.3 million for the full year 2013 and of CHF 5.5million for the full year 2012.

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

2013

2012

+/– %

Operating profit before tax

60'925

107'949

–43.6

Assumed average income tax rate of 11.5 % (2012: 11.5 %)

–7'006

–12'414

–43.6

 

 

 

 

Increase / (decrease) resulting from

 

 

 

Difference between actual and assumed tax rates

–146

–476

–69.2

Total tax expenses

–7'153

–12'890

–44.5

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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