8 – Income taxes
Income before taxes and minority interests (million €) |
|||||
|---|---|---|---|---|---|
|
|
3rd Quarter |
January – September |
||
|
|
2015 |
2014 |
2015 |
2014 |
Germany |
|
425 |
504 |
1,599 |
1,481 |
Foreign |
|
1,289 |
1,069 |
3,833 |
3,927 |
Income before taxes and minority interests |
|
1,714 |
1,573 |
5,432 |
5,408 |
Income taxes |
||||||
|---|---|---|---|---|---|---|
|
|
|
3rd Quarter |
January – September |
||
|
|
|
2015 |
2014 |
2015 |
2014 |
Germany |
|
million € |
114 |
124 |
476 |
481 |
Foreign |
|
million € |
331 |
310 |
1,018 |
933 |
Income taxes |
|
million € |
445 |
434 |
1,494 |
1,414 |
Tax rate |
|
% |
26.0 |
27.6 |
27.5 |
26.1 |
The tax rate in the first three quarters of 2015 increased by 1.4 percentage points compared with the same period of the previous year. This was particularly the result of higher deferred taxes in the Oil & Gas segment due to the currency-driven increase in temporary differences to the values used for the calculation of taxable income in Norway. The same period of the previous year had included tax-free foreign special income from the sale of shares in non-BASF-operated oil and gas fields in the British North Sea to the MOL Group.
In the third quarter of 2015, gains from the swap of assets with Gazprom did not result in tax burdens, and led to a reduction in the tax rate compared with the previous third quarter.