Audi 2014 Annual Report Download - page 240

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
NOTES TO THE INCOME STATEMENT
240 >>
9 /
OTHER FINANCIAL RESULTS
EUR million 2014 2013
Result from participations 53 60
of which result from participations 50 53
of which income from profit transfer agreements 3 7
Result from disposals of securities –1 6
Income and expense from the measurement of
non-derivative financial instruments 0 1
Write-ups on non-derivative financial instruments 7 8
Income and expense from the fair value measurement of
derivative financial instruments – 35 – 628
Interest and similar income 131 96
Other income 485 452
Other financial results 639 –4
Result from participations mainly comprises a share in the prof-
its of Volkswagen Logistics GmbH & Co. OHG, Wolfsburg. It
also includes write-downs on participations. The income and
expense from the fair value measurement of derivative financial
instruments encompass the ineffective portions of cash flow
hedges and the fair value fluctuations of derivative financial
instruments that do not comply in full with the effectiveness
criteria of IAS 39. The total position in relation to hedging
instruments is presented under Note 36.5, “Methods of moni-
toring the effectiveness of hedging relationships.” Interest
income is attributed on an accrual basis.
10 / INCOME TAX EXPENSE
Income tax expense includes taxes passed on by Volkswagen AG,
Wolfsburg, on the basis of the single-entity relationship
between the two companies for tax purposes, along with taxes
owed by AUDI AG and its consolidated subsidiaries, as well as
deferred taxes.
EUR 1,213 (1,212) million of the actual income tax expense
was charged to Volkswagen AG.
EUR million 2014 2013
Actual income tax expense 1,499 1,393
of which for Germany 1,257 1,255
of which for foreign countries 242 139
of which income from the dissolution of tax provisions – 11 –3
Deferred tax income/expense 64 – 85
of which for Germany – 31 – 27
of which for foreign countries 95 – 57
Income tax expense 1,563 1,309
of which non-periodic tax income – 121 –5
The actual taxes in Germany are calculated at a tax rate of
29.8 (29.5) percent. This represents the sum of the corpora-
tion income tax rate of 15.0 percent, the solidarity surcharge
of 5.5 percent and the average trade income tax rate for the
Group. The deferred taxes for companies in Germany are calcu-
lated at a rate of 29.8 (29.8) percent. The local income tax
rates applied to foreign companies range from 0 percent to
39 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.