16 Tax 

Current income tax receivables amount to €13.9 million (December 31, 2021: Payable €36.9 million).

The domestic corporate income tax rate for 2022 is 25,8% (2021: 25.0%). Mainly because of the participation exemption on the equity results, the effective income tax rate for half year 2022 is -7.5%. Appling the tax rate to the profit of €95 million we come to a corporate income tax receivable amount of €7.1 million (December 2021: Payable €33.3million). Per 30 June, 2022 there were no unused tax losses (December 31, 2021: EUR €0 million) and the unused tax credits amounted to €0 (December 31, 2021: €0).

 

  

June 30, 2022

December 31, 2021

Profit/(loss) before taxation

 

94,943

523,914

    

Income taxes at statutory rate of 25.8% (2021: 25%)

 

-24,495

-130,979

Increase/decrease resulting from:

   

ˑ

Settlement with local withholding taxes

1,113

2,100

ˑ

Non-taxable income (participation exemption facility)

31,164

92,426

ˑ

Tax adjustments to prior periods

-

3,369

ˑ

Other

-713

-184

Total income tax

 

7,069

-33,268

Effective income tax rate

 

-7.5%

6.3%

 

June 30, 2022

December 31, 2021

   

Deferred tax assets

  

Pension provision

2,958

2,958

Actuarial gains and losses on defined benefit plans

86

2,583

Tax depreciation fixed assets

-

-

Operational leases

48

48

Total deferred tax assets

3,092

5,589

   

Deferred tax liabilities

  

Fair value movements equity investments

-10,748

-10,748

Total deferred tax liabilities

-10,748

-10,748

Net balance

-7,656

-5,159