Annual Report Gorenje Group 2009

GROUP - INCOME TAX EXPENSE
Note 20 – Income tax expense
2,924 TEUR
Income tax expense is recorded by taking into account current tax liabilities, deferred tax assets, and
deferred tax liabilities.
in TEUR 2009 2008
Current tax expense 5,759 5,752
Deferred tax expense -2,835 -460
Total 2,924 5,292
Effective income tax rates
in TEUR 2009 2009 2008 2008
Profit or loss excluding income tax -9,308 15,473
Income tax using the domestic tax rate 21.0 % -1,955 22.0 % 3,404
Effect of tax rates in foreign jurisdictions -2.6 % 242 3.1 % 472
Non-deductible expenses -36.6 % 3,405 40.2 % 6,219
Tax exempt income -9.4 % 873 -3.6 % -555
Tax incentives 12.4 % -1,152 -27.5 % -4,248
Tax losses -16.7 % 1,553
Other differences 0.5 % -42
Income tax expense -31.4 % 2,924 34.2 % 5,292
Deferred tax amounts recognised in other comprehensive income:
in TEUR 2009
Pre-tax amount
Tax
After-tax
amount
Change in fair value of available-for-sale financial assets -878 166 -712
Change in fair value of available-for-sale financial assets
transferred to profit or loss -3,097 351 -2,746
Change in effective portion of gains and losses on hedging
instruments in a cash flow hedge 597 2,062 2,659
Change in effective portion of gains and losses on hedging
instruments in a cash flow hedge transferred to profit or
loss -1,611 0 -1,611
Change in fair value of land -4 84 80
Foreign currency translation differences for foreign
operations -2,903 -2,903
Other comprehensive income -7,896 2,663 -5,233
129
Annual Report Gorenje Group 2009