11 Tax expenses

(XLS:)

in CHF thousands

2011

2010

+/– %

*

See note 29 for details.

Current tax

–5'933

–28'457

–79.2

Deferred tax*

3'520

17'452

–79.8

Total tax expenses

–2'413

–11'005

–78.1

The actual net payments made by the LLB Group for domestic and foreign corporate profit taxes amounted to CHF 28.9 million for the full year 2011 and of CHF 35.7 million for the full year 2010.

The tax on pre-tax Group profit deviates from the theoretical amount, calculated on the basis of the weighted average Group tax rate on profit before tax, as follows:

(XLS:)

in CHF thousands

2011

2010

+/– %

Operating profit before tax

17'818

119'485

–85.1

Income tax as per assumed rate of 11.5 % (2010: 11.5 %)

–2'049

–13'741

–85.1

 

 

 

 

Increase/(decrease) resulting from

 

 

 

Difference between actual and assumed tax rates

–3'884

–14'716

–73.6

Operating loss carry forwards

0

–2'396

–100.0

Non-taxable revenues

–527

–288

83.0

Non-deductable depreciation on intangible assets

1'384

1'421

–2.6

Other non-deductible expenses

2'663

18'715

–85.8

Total income tax expenses

–2'413

–11'005

–78.1

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