Audi 2009 Annual Report Download - page 205

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The effects arising as a result of the tax benefits on research and development expenditure in
Hungary are reported under tax-exempt income in the reconciliation accounts.
There are loss carryforwards totaling EUR 104 (61) million, of which the amount of EUR 46 (57)
million can be used indefinitely. The realization of tax losses led to a reduction in current income
tax expense of EUR 2 (1) million in the 2009 fiscal year. Deferred tax assets of EUR 160 (149)
million were not reported due to impairment. Unused tax loss carryforwards accounted for
EUR 7 (2) million of this amount, tax rebates for EUR 153 (147) million.
The reporting and measurement differences in the individual Balance Sheet items can be attrib-
uted to the following deferred tax assets and liabilities carried in the Balance Sheet:
EUR million Dec. 31, 2009 Dec. 31, 2008 Dec. 31, 2009 Dec. 31, 2008
Deferred tax assets Deferred tax liabilities
Intangible assets 100 101 476 459
Property, plant and equipment 279 200 224 217
Long-term investments 157 133 – –
Inventories 61 80 41 40
Receivables and other assets 37 56 226 339
Other current assets 50 34 – –
Provisions for pensions 105 81 1 3
Other provisions 878 910 0 49
Liabilities 121 89 3 15
Loss carryforwards 18 10 – –
Gross value 1,806 1,694 971 1,122
of which non-current 1,272 1,145 580 596
Offsetting measures – 931 – 994 – 931 – 994
Consolidation measures 44 – 95 – 50
Carrying amount 919 691 45 78
Deferred taxes are explained in detail in the recognition and measurement principles.
Reconciliation of anticipated and reported income tax expense
The anticipated tax expense is lower than the reported tax expense. The reasons for the differ-
ence between the anticipated and the reported tax expense can be found in the reconciliation
accounts as follows:
EUR million 2009 2008
Profit before tax 1,928 3,177
Anticipated income tax expense 29.5% (29.5%) 569 937
Reconciliation:
Divergent foreign tax burden – 2 17
Tax portion for:
tax-exempt income – 123 – 127
expenses not deductible for tax purposes 18 30
temporary differences and losses for which no deferred tax has been
recorded 132 124
Non-periodic tax expenses 15 1
Effects of tax rate changes 2 3
Other tax effects – 30 – 15
Income tax expense reported 581 970
Effective tax rate in % 30.1 30.5