8 – Income taxes
Income before taxes and minority interests (million €) |
|||
|---|---|---|---|
|
|
1st Quarter |
|
|
|
2015 |
2014 |
Germany |
|
400 |
547 |
Foreign |
|
1,431 |
1,491 |
Income before taxes and minority interests |
|
1,831 |
2,038 |
Income taxes |
||||
|---|---|---|---|---|
|
|
|
1st Quarter |
|
|
|
|
2015 |
2014 |
Germany |
|
million € |
102 |
189 |
Foreign |
|
million € |
441 |
323 |
Income taxes |
|
million € |
543 |
512 |
Tax rate |
|
% |
29.7 |
25.1 |
The rise in the tax rate resulted particularly from higher deferred taxes in the Oil & Gas segment. These pertain to the currency-driven increase in temporary differences in the values used for the calculation of taxable income in Norway. Furthermore, the lower amount of tax-free income led to an increase in the tax rate.
The previous year had included tax-free special income from the sale of shares in non-BASF-operated oil and gas fields in the British North Sea to the MOL Group.