english - About Heraeus

For the calculation of deferred and current taxes in Germany, the corporate income tax
rate totals 15.8% (previous year: 15.8%) including the solidarity surcharge, and, depending
on the local levy, municipal trade tax is between 10.5% and 17.2% (trade tax for the
previous year: 11.2% to 17.2%). For the consolidated German companies, tax rates of
between 26.3% and 33.0% are applicable (previous year: 27.0% to 33.0%).
Outside Germany, tax rates range from 4.0% to 42.0% (previous year: 5.0% to 42.0%).
The total tax expenses for the 2012 financial year were € 44.3 million lower than the previous
year.
Expected tax expenses are reconciled to current tax expenses as follows:
in € million 2012 2011
Income before taxes 328.2 450.0
Expected income tax expenses
(Tax rate 30.8%; previous year: 30.2%)
Differences:
101.1 135.9
Difference between local tax rate and Group tax rate – 12.4 8.2
Change in tax rate 3.2 0.2
Allowances 3.4 – 1.2
Tax-exempt income – 7.3 – 14.4
Non-deductible operating expenses 7.6 6.8
Income taxes for previous years – 3.8 1.0
Other – 0.6 – 1.0
Recognized income tax expenses 91.2 135.5
Effective tax rate (%) 27.8 % 30.1 %
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