Porsche 2010 Annual Report Download - page 172

Financials
170
[6] Finance revenue
Finance revenue contains interest income of €80 million (prior year: €123 million) from fi-
nancial instruments that are not measured at fair value through profit or loss.
[7] Income tax
The income tax expense (+) and income (–) disclosed breaks down into:
The overall income tax rate for the German entities is 30% (prior year: 30%). The tax rate
applied for the foreign subsidiary is 12.5% (prior year: 12.5%). There were no changes to the tax
rates in either reporting period.
Previously unused tax losses for which no deferred tax assets were recorded amounted to
€2,110 million (prior year: €2,926 million) and are unforfeitable. If the merger set out in the basic
agreement occurs, the then unused tax losses will be forfeited. The decrease compared to 31 July
2010 is essentially due to the decision made by the tax authorities regarding the tax treatment of
stock option transactions.
Deductible temporary differences on which no deferred taxes were recognized amounted to
€30 million in the reporting period (prior year: €57 million).
€ million SFY 2010 2009/10
Interest income on loans against joint ventures 75 116
Other interest and similar income 6 11
81 127
€ million SFY 2010 2009/10
Current tax income/expense, Germany – 648 0
Current tax income/expense, other countries 1 3
Current tax income/expense – 647 3
thereof income/expenses relating to other periods – 648 0
Deferred tax income/expense, Germany 0 111
Deferred tax income/expense, other countries 0 0
Deferred taxes 0 111
Income tax – 647 114