Audi 2012 Annual Report Download - page 227

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EUR 1,295 (1,587) million of the actual income tax expense was passed on by Volkswagen AG.
The actual taxes in Germany are calculated at a tax rate of 29.5 (29.5) percent. This represents the
sum of the corporation income tax rate of 15.0 percent, the solidarity surcharge of 5.5 percent and
the average trade earnings tax rate for the Group. The deferred taxes for companies in Germany
are calculated at a rate of 29.5 (29.5) percent. The local income tax rates applied to foreign
companies range from 0 percent to 41 percent.
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 3,044 (114) million, of which the amount of
EUR 3,031 (99) million can be used indefinitely. In the 2012 fiscal year, the realization of tax
losses led to a reduction in current income tax expense of EUR 22 (5) million. Deferred tax assets
of EUR 307 (2) million relating to carryforward of unused tax losses were not reported due to
impairment. The increase in loss carryforwards was primarily due to internal reorganization
within the Group. Based on current results planning, most of these are to be classed as
unusable.
Deferred taxes of EUR 10 (0) million were capitalized, with no deferred tax liabilities in the cor-
responding amount being offset against them. Following a loss in the current fiscal year, the
company concerned is expecting to record a positive tax income in future.
Of the deferred taxes reported in the Balance Sheet, a total of EUR 3 million was recorded with a
resulting reduction in equity, without influencing the Income Statement. In the previous year,
deferred taxes amounting to EUR 317 million were recorded with a resulting increase in equity.
The recording of actuarial losses without affecting income, pursuant to IAS 19, led in the current
fiscal year to an increase in equity of EUR 275 (42) million from the creation of deferred taxes.
The change in deferred taxes on the effects recognized in equity for derivative financial instru-
ments and securities led to a reduction of EUR 278 million in equity in the course of the year. In
the previous year, deferred taxes arising from these effects amounting to EUR 275 million were
recorded with a resulting increase in equity.
The reporting and measurement differences in the individual Balance Sheet items can be
attributed to the following deferred tax assets and liabilities carried in the Balance Sheet:
EUR million Dec. 31, 2012 Dec. 31, 2011 Dec. 31, 2012 Dec. 31, 2011
Deferred tax assets Deferred tax liabilities
Intangible assets 106 56 842 515
Property, plant and equipment 260 198 80 70
Long-term investments 32 1 –
Inventories 42 38 8 1
Receivables and other assets 67 193 97 39
Other current assets 42 15 – –
Provisions for pensions 409 165 3 3
Liabilities and other provisions 1,454 1,583 17 9
Loss carryforwards 727 – –
Gross value 2,390 2,277 1,047 637
of which non-current 1,474 1,280 957 596
Offsetting measures – 839 – 621 – 839 – 621
Consolidation measures 187 183 1 –
Carrying amount 1,738 1,839 208 16