15. Income taxes

Expenses for taxes on income are EUR 8,298.5 thousand lower (previous year: EUR 3,188.6 thousand lower) than the calculated expenses for taxes on income that result from applying the respective tax rates (Austria: 23.00% (previous year: 23.25%); 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 907,187.8 thousand (previous year: EUR 683,832.1 thousand) in connection with fully consolidated subsidiaries, joint ventures and associated companies. Deferred taxes in the amount of EUR -4,022.5 thousand (previous year: EUR -8,961.2 thousand) pertain to changes in value of investments and securities FVOCI recognised outside of profit or loss; deferred taxes in the amount of EUR -13,817.5 thousand (previous year: EUR 96,232.5 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 was transposed into national law. Starting with the 2024/2025 fiscal year, the Energie AG Group is covered by the scope of these regulations, yet does not currently anticipate any additional tax payments.