8 – Income taxes

Income before taxes and minority interests (million €)

 

 

2nd Quarter

1st Half

 

 

2016

2015

2016

2015

Germany

 

532

774

1,020

1,174

Foreign

 

1,009

1,113

2,199

2,544

Income before taxes and minority interests

 

1,541

1,887

3,219

3,718

Income taxes

 

 

 

2nd Quarter

1st Half

 

 

 

2016

2015

2016

2015

Germany

 

million €

158

260

288

362

Foreign

 

million €

256

246

384

687

Income taxes

 

million €

414

506

672

1,049

Tax rate

 

%

26.9

26.8

20.9

28.2

The lower tax rate in the first half of 2016 was particularly the result of lower 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.

Lower earnings from countries with high taxes, especially in Norway, also contributed to a reduction in the tax rate.