9 Tax expenses

(XLS:)

in CHF thousands

2012

2011

+/– %

*

See note 25 for details.

Current taxes

–4'887

–5'933

–17.6

Deferred taxes*

–8'003

3'520

 

Total tax expenses

–12'890

–2'413

434.2

The actual net payments made by the LLB Group for domestic and foreign corporate profit taxes amounted to CHF 5.5 million for the full year 2012 and of CHF 28.9 million for the full year 2011.

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:

(XLS:)

in CHF thousands

2012

2011

+/– %

Operating profit before tax

110'796

17'818

521.8

Income tax as per assumed rate of 11.5 % (2011: 11.5 %)

–12'742

–2'049

521.9

 

 

 

 

Increase/(decrease) resulting from

 

 

 

Difference between actual and assumed tax rates

–148

–364

–59.3

Total income tax expenses

–12'890

–2'413

434.2

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