8 – Income taxes
|
|
1st Quarter |
|
|---|---|---|---|
|
|
2016 |
2015 |
Germany |
|
488 |
400 |
Foreign |
|
1,190 |
1,431 |
Income before taxes and minority interests |
|
1,678 |
1,831 |
|
|
|
1st Quarter |
|
|---|---|---|---|---|
|
|
|
2016 |
2015 |
Germany |
|
million € |
130 |
102 |
Foreign |
|
million € |
128 |
441 |
Income taxes |
|
million € |
258 |
543 |
Tax rate |
|
% |
15.4 |
29.7 |
The decline in the tax rate in the first quarter of 2016 was particularly the result of lower deferred taxes in the Oil & Gas segment due to the currency-driven decrease in temporary differences to the values used for the calculation of taxable income in Norway.
The smaller earnings contributions from abroad, especially Norway, additionally contributed to the lower tax rate.