15. Income taxes

Expenses for taxes on income are EUR 3,188.6 thousand lower (previous year: EUR 19,444.6 thousand lower) than the calculated expenses for taxes on income that result from applying the respective tax rates (Austria: 23.25% (previous year: 24.25%); Czech Republic: 19%) to the earnings before taxes on income. The reasons for the difference between the calculated and reported income tax expenses are as follows:

Temporary differences between the amounts recognised in the Consolidated Financial Statements and the respective taxable amounts have the following effects on the reported deferred taxes:

No deferred tax liabilities were recognised for temporary differences of EUR 683,832.1 thousand (previous year: EUR 922,656.1 thousand) in connection with fully consolidated subsidiaries, joint ventures and associated companies. Deferred taxes in the amount of EUR -8,961.2 thousand (previous year: EUR -924.5 thousand) pertain to changes in value of investments and securities FVOCI recognised outside of profit or loss; deferred taxes in the amount of EUR 96,232.5 thousand (previous year: EUR -49,396.0 thousand) pertain to changes in value from hedge accounting recognised outside of profit or loss.

The OECD has published regulations pertaining to the introduction of a global minimum tax on corporate profits of 15%. This was followed by an EU directive, passed in 2022, which must be transposed into national law. The Energie AG Group is covered by the scope of these regulations, yet does not currently anticipate any additional tax payments.