Porsche 2005 Annual Report Download - page 130
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126
2005/06 2004/05
T€ T€
Expected income tax expense 822,900 482,820
Tax rate related differences – 30,381 – 28,066
Difference in tax base – 85,632 4,090
Recognition and measurement of deferred tax assets 768 967
Taxes relating to other periods 9,896 – 961
Other differences – 551 150
Reported income tax expense 717,000 459,000
Deferred tax assets Deferred tax liabilities
July 31, 2006 July 31, 2005 July 31, 2006 July 31, 2005
T€ T€ T€ T€
Intangible assets, property, plant and
equipment, leased assets and financial assets 232,796 218,683 430,723 284,343
Other assets 300,821 150,655 387,423 340,564
Unused tax losses and
tax credits 444 785 – –
Provisions 255,652 252,897 642 –
Liabilities 194,082 13,639 205,520 7,337
Subtotal 983,795 636,659 1,024,308 632,244
Offsetting – 842,544 – 451,895 – 842,544 – 451,895
Balance pursuant to consolidated balance sheet 141,251 184,764 181,764 180,349
The deferred tax assets and liabilities break down by balance sheet item as follows.
In addition, deferred tax assets of a total of T€ 3,443 (previous year: T€ 1,126) were recognized on
unused tax losses and of T€ 244 (previous year: T€ 14) on unused tax credits. No deferred taxes were
recorded on accumulated profits at subsidiaries of T€ 18,614 (previous year: T€ 30,336), as these profits
are to be used for the expansion of business activities at the different locations.
The following reconciliation shows the differences between the theoretical income tax expense expected
based on the calculated tax rate and the current income tax expense: