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Tax Cockpit and KPI Definitions Beispiel Global Tax Group (GTG)

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Präsentation zum Thema: "Tax Cockpit and KPI Definitions Beispiel Global Tax Group (GTG)"—  Präsentation transkript:

1 Tax Cockpit and KPI Definitions Beispiel Global Tax Group (GTG)

2 Tax Cockpit

3 Tax Cockpit – 1. Dimension: Profitability

4 Tax Cockpit – 2. Dimension: Liability

5 Tax Cockpit – 3. Dimension: Risk optimization/Flexibility

6 6 Relevant Tax KPIs were precisely defined and can be calculated by information from Tax Workbook and other pre systems Definition of core KPIs KPIs effective tax rate present value of taxes present value quota tax on expenses ordinary tax on ordinary earnings extraordinary tax on extraordinary earnings volume of current taxes volume of DTA volume of DTL tax asset and liability quota tax cash flow tax cash flow quota average duration of deferred tax assets average duration of deferred tax liabilities expected value of tax audit losses volatility of tax audit losses volatility of ETR average expiration of TLCF volume of TLCF tax provisions for risks Definition = current and deferred tax expenses / earnings before taxes = tax year 1/(1+i) + tax year 2/(1+i) 2 + tax year 3/(1+i) 3... = present value tax / present value EBT = tax expenses / total expenses = ordinary tax expenses / total ordinary earnings = extraordinary tax expenses / total extraordinary earnings = total amount of current taxes = total amount of DTA = total amount of DTL = deferred tax assets / (deferred tax liability + tax provisions) = cash flow tax = cash flow tax / cash flow operations = (Σ deferred tax assets x remaining time in accounts) / deferred tax assets = (Σ deferred tax liabilities x remaining time in accounts) / deferred tax liabilities = probability of expected tax payments x expected tax payments = standard deviation between exp. loss year 1 and average exp. loss over time = standard dev. between group ETR year 1 and average group ETR over time = Σ (yearly amount of TLCF x remaining time) / total amount of TLCF = total amount of TLCF = tax provisions for risks Profitability Liquidity Risk optimization/ Flexibility

7 Profitability Liquidity Risk Optimization and Flexibility Content

8 8 KPI description Effective tax rate Goal:Maximum of profitability KPI:Effective tax rate (ETR) Explanation / Cause-effect-relations: The globalization of the capital markets requires a generally accepted indicator to assess a companys tax position. By using the ETR a comparison of the tax positions of internationally acting com- panies is possible. The ETR is the core KPI for internal and external communi- cation purposes. Its focus is on current as well as on future tax expenses (i.e. deferred taxes). Definition: Target figure:27% Data source: TaxWorkBook Level: - legal entity - group - country - region - SBU Usage: - planning - forecast - reporting - … Addressees: - GTG - Mmanagement - External stakeholders Frequency: - monthly - quarterly - yearly Responsibility: Mr. xy, x x x. x x x x x x x x x Current and deferred tax expenses * 100 Net income before tax [%]

9 9 KPI description Present value of taxes Goal:Maximum of profitability KPI:Present value of taxes Explanation / Cause-effect-relations: Der Barwert der potenziellen Steuer- zahlungen prognostiziert und bewertet die zukünftigen Steuerzahlungen über den Planungszeitraum der Gesellschaft und lässt somit zeitraumübergreifende Steuerbelastungsvergleiche unterschied- licher Szenarien zu. Definition:Target figure: Die Zielgröße hängt vom jeweiligen Planungsfokus ab. Wegen des profita- bilitätsmindernden Charakters von Steuern ist generell ein Zielwert von 0 Euro wünschenswert. Data source: TWB Level: - legal entity - group - country - region - SBU Usage: - planning - forecast - reporting - … Addressees: - GTG - Mmanagement - External stakeholders Frequency: - monthly - quarterly - yearly Responsibility: Mr. xy, x x. x.. x x x Current tax year 1 Current tax year i (1 + i) 2 [Euro] +

10 10 KPI description Present value quota Goal:Maximum of profitability KPI:Present value quota Explanation / Cause-effect-relations: Die Barwertquote setzt den Barwert der zukünftigen Steuerzahlungen mit dem Barwert des operativen Ergebnisses in Relation. Sie enthält somit einen dyna- mischen Deckungsgrad der Steuer- zahlung durch das operative Ergebnis des betrachteten Unternehmens und stellt eine dynamisierte, zukünftige Steuerbelastungsquote dar. Definition: Target figure:... % Level: - legal entity - group - country - region - SBU Usage: - planning - forecast - reporting - … Addressees: - GTG - Mmanagement - External stakeholders Frequency: - monthly - quarterly - yearly Responsibility: Mr. xy, x x x x x x Present value tax *100 Present value EBT [%] Data source: TWB,

11 11 KPI description Ordinary tax on ordinary earnings Goal:Maximum of profitability KPI:Ordinary tax on ordinary earnings Explanation / Cause-effect-relations: Die gewöhnliche Steueraufwandsquote ermittelt die Relation zwischen gewöhn- lichem Steueraufwand und gewöhn- lichem Ergebnis. Sie eliminiert außer- ordentliche Effekte und stellt damit ein Maß für die relative steuerliche Normal- belastung des Unternehmens dar. Definition: Target figure:... % Data source: TWB Level: - legal entity - group - country - region - SBU Usage: - planning - forecast - reporting - … Addressees: - GTG - Mmanagement - External stakeholders Frequency: - monthly - quarterly - yearly Responsibility: Mr. xy, x x x x x Ordinary tax expenses * 100 Total ordinary earnings [%] Ordinary tax expenses = tax expenses without extraordinary taxes (as capital gains tax) Ordinary earnings = EBT without capital gains etc.

12 12 KPI description Extraordinary tax on extraordinary earnings Goal:Maximum of profitability KPI:Extraordinary tax on extraordinary earnings Explanation / Cause-effect-relations: Die außerordentliche Steueraufwands- quote stellt die Relation von außerge- wöhnlichem Steueraufwand zu außer- ordentlichem Ergebnis dar. Sie macht die außerordentliche Steuerbelastung durch einmal auftretende Sondereffekte transparent und setzt sie mit dem zuge- hörigen Ergebnisanteil in Beziehung. Definition: Target figure:... % Data source: TWB Level: - legal entity - group - country - region - SBU Usage: - planning - forecast - reporting - … Addressees: - GTG - Mmanagement - External stakeholders Frequency: - monthly - quarterly - yearly Responsibility: Mr. xy, x x x x x Extraordinary tax expenses * 100 Total extraordinary earnings [%] Extraordinary tax expenses = capital gain tax + other extraordinary tax expenses corporate tax + other extra- ordinary tax expenses local tax Extraordinary earnings = capital gain + tax free revenues - extraordinary expenses

13 13 KPI description Volume of current taxes Goal:Maximum of profitability KPI:Volume of current taxes Explanation / Cause-effect-relations: Die Summe der laufenden Steuern ist die originäre Höhe der tatsächlichen durch Steuerbescheid festgesetzten Steuern, die entweder schon gezahlt wurden oder kurzfristig gezahlt werden müssen. Sie enthält keine rein bilanziell entstandenen Steuerlatenzen. Definition:Target figure:... Euro Upper interval limit... Euro Lower interval limit:... Euro Kann nicht pauschal festgelegt werden, da abhängig vom Planungsobjekt und von Rahmenbedingungen (z.B. PBT) Data source: TWB Level: - legal entity - group - country - region - SBU Usage: - planning - forecast - reporting - … Addressees: - GTG - Management - External stakeholders Frequency: - monthly - quarterly - yearly Responsibility: Mr. xy, x x x x x x x x x x x x Total amount of current taxes [Euro] Actual tax payments and increase of tax provisions

14 14 KPI description Tax on expenses Goal:Maximum of profitability KPI:Tax on expenses Explanation / Cause-effect-relations: Die Steueraufwandsquote ermittelt den Anteil des Steueraufwands am Gesamt- aufwand des betrachteten Unterneh- mens. Sie ermöglicht so einen Auf- wandsstrukturvergleich zwischen unterschiedlichen Unternehmen. Definition: Target figure:... % Data source: TWB Level: - legal entity - group - country - region - SBU Usage: - planning - forecast - reporting - … Addressees: - GTG - Management - External stakeholders Frequency: - monthly - quarterly - yearly Responsibility: Mr. xy, x x x x x x Current + deferred tax expenses * 100 Total expenses [%]

15 15 KPI description Volume of current taxes Goal:Maximum of profitability KPI:Volume of deferred taxes Explanation / Cause-effect-relations: Latente Steuern ergeben sich aus der Differenz von Steuerbilanz und Handelsbilanz. Die Veränderung dieser temporären Differenzen zwischen zwei Perioden fließt als Ertrag oder Aufwand in die Gewinn- und Verlustrechnung. Definition: Target figure:... Euro Data source: TWB Level: - legal entity - group - country - region - SBU Usage: - planning - forecast - reporting - … Addressees: - GTG - Mmanagement - External stakeholders Frequency: - monthly - quarterly - yearly Responsibility: Mr. xy, x x x x x x x x x x x x Volume of deferred differences movement * tax rate [Euro] Volume of deferred taxes = movement of DTL – movement of DTA

16 16 KPI description Non-tax-deductible expenses (NTDE) Goal:Maximum of profitability KPI:Non-tax-deductible expenses (NTDE) Explanation / Cause-effect-relations: A tax deduction or a tax-deductible expense represents an expense incurred by a taxpayer that is subtracted from gross income and results in a lower overall taxable income, no tax exemption. Definition:Target figure:... Euro Upper interval limit... Euro Lower interval limit:... Euro Kann nicht pauschal festgelegt werden, da abhängig von gesetzlichen Rahmen- bedingungen Data source: TWB, statutory requirements Level: - legal entity - group - country - region - SBU Usage: - planning - forecast - reporting - … Addressees: - GTG - Management - External stakeholders Frequency: - monthly - quarterly - yearly Responsibility: Mr. xy, GTG x x x x x x x xx x Total amount of expenses, which are not tax deductible [Euro]

17 17 KPI description Tax exempt income Goal:Maximum of profitability KPI:Tax exempt income Explanation / Cause-effect-relations: Many types of income and benefits may be exempt from income taxes to some limited extent, because of how they were received, such as educational scholarships, gifts, inheritances, combat pay to military personnel, income from local bonds, employee discounts, payments for personal injuries, and life insurance proceeds. Definition:Target figure:... Euro Upper interval limit... Euro Lower interval limit:... Euro Kann nicht pauschal festgelegt werden, da abhängig von gesetzlichen Rahmen- bedingungen Data source: TWB, statutory requirements Level: - legal entity - group - country - region - SBU Usage: - planning - forecast - reporting - … Addressees: - GTG - Management - External stakeholders Frequency: - monthly - quarterly - yearly Responsibility: Mr. xy, GTG x x x x x x x x Total amount of income, for which no taxes have to be paid [Euro]

18 18 KPI description Withholding taxes (WHT) Goal:Maximum of profitability KPI:Volume of withholding taxes (WHT) Explanation / Cause-effect-relations: WHT is an amount withheld by the party making payment to another (payee) and paid to the taxation authorities. The payee is assessed on the gross amount, and the tax to be withheld is computed in that assessment. The purpose of WHT is to facilitate or accelerate collection, by collecting tax from payers rather than a much greater number of payees, and by collecting tax from payers within the jurisdiction rather than payees who may be outside the jurisdiction. Definition:Target figure:... Euro Upper interval limit... Euro Lower interval limit:... Euro Data source: TWB Level: - legal entity - group - country - region - SBU Usage: - planning - forecast - reporting - … Addressees: - GTG - Management - External stakeholders Frequency: - monthly - quarterly - yearly Responsibility: Mr. xy, GTG x x x x x x Total amount of withholding taxes [Euro]

19 19 KPI description Tax credits Goal:Maximum of profitability KPI:Tax credits Explanation / Cause-effect-relations: Within the Australian, Canadian, UK, French, and US tax systems, a tax credit is a recognition of partial payment already made towards tax due. This situation arises e.g., when standard rate tax has been deducted at source (WTH), but the tax-payer is subject to further taxation at a higher rate. It also applies in dividend imputation systems. In some countries (e.g. UK), "tax credit" refers to tax treated as deducted at source, which has not actually been deducted or paid. Definition:Target figure:... Euro Upper interval limit... Euro Lower interval limit:... Euro Data source: TWB, statutory requirements Level: - legal entity - group - country - region - SBU Usage: - planning - forecast - reporting - … Addressees: - GTG - Mmanagement - External stakeholders Frequency: - monthly - quarterly - yearly Responsibility: Mr. xy, GTG x x x x x x Total amount of tax credits [Euro]

20 Profitability Liquidity Risk Optimization and Flexibility Content

21 21 KPI description Volume of deferred tax assets Goal:Satisfactory level of liquidity KPI:Volume of deferred tax assets (DTA) Explanation / Cause-effect-relations: Die Höhe der aktiven latenten Steuern bildet sich aus der Differenz zwischen handelsrechtlichen und steuerrechtlichen Wertansätzen von Bilanzaktiva oder Bilanzpassiva, die zu potenziellen Steuerrückerstattungen in Zukunft führen. Sie stellen somit potenzielle Ansprüche gegenüber dem Fiskus dar. Definition: Target figure:... Euro Upper interval limit... Euro Lower interval limit:... Euro Data source: TWB Level: - legal entity - group - country - region - SBU Usage: - planning - forecast - reporting - … Addressees: - GTG - Management - External stakeholders Frequency: - monthly - quarterly - yearly Responsibility: Mr. xy, GTG x x x x x x x x x x x x Total amount of DTA [Euro] (IFRS-value – tax book value per asset) * tax rate, if amount < 0 + (IFRS-value – tax book value per liability) * tax rate, if amount > 0

22 22 KPI description Volume of deferred tax liabilities Goal:Satisfactory level of liquidity KPI:Volume of deferred tax liabilities (DTL) Definition: Target figure:... Euro Upper interval limit... Euro Lower interval limit:... Euro Data source: TWB Level: - legal entity - group - country - region - SBU Usage: - planning - forecast - reporting - … Addressees: - GTG - Management - External stakeholders Frequency: - monthly - quarterly - yearly Responsibility: Mr. xy, GTG x x x x x x x x x x x x Total amount of DTL [Euro] (IFRS-Value – tax book value per asset) * tax rate, if amount > 0 + (IFRS-value – tax book value per liability) * tax rate, if amount < 0 Explanation / Cause-effect-relations: Passive latente Steuern resultieren aus Wertdifferenzen zwischen handels- und steuerrechtlichen Wertansätzen von Bilanzaktiva oder Bilanzpassiva, die zu potenziellen Steuernachzahlungen führen. Sie stellen somit eine zukünftige Steuerlast gegenüber dem Fiskus dar.

23 23 KPI description Tax asset and tax liability quota Goal:Satisfactory level of liquidity KPI:Tax asset and tax liability quota Explanation / Cause-effect-relations: Das Verhältnis zwischen aktiven und passiven latenten Steuern zeigt die bilanzielle Liquiditätswirkung / das bilanzielle Finanzierungs- bzw. Kapital- bindungspotenzial, das aus den latenten Steuern herrührt. Ist die Quote größer als eins zeigt sie gleichzeitig Abschrei- bungsbedarf der aktiven latenten Steuern an. Definition: Target figure:>100 % Data source: TWB Level: - legal entity - group - country - region - SBU Usage: - planning - forecast - reporting -... Addressees: - GTG - Management - External stakeholders Frequency: - monthly - quarterly - yearly Responsibility: Mr. xy, GTG x x x x x Deferred tax assets * 100 Deferred tax liabilities + tax provisions [%]

24 24 KPI description Deferred tax asset valuation allowances Goal:Satisfactory level of liquidity KPI:Deferred tax asset valuation allowances Explanation / Cause-effect-relations: Companies accrue for the tax benefit expected to be received in future years if, in the judgment of management, it is "more likely than not" that the company will receive the tax benefits. If after conducting the periodic review, management determines that the realization of the tax asset does not meet the "more-likely-than-not" criteria, an offsetting valuation allowance is recorded thereby reducing net earnings and the deferred tax asset in that period. Definition: Target figure:... Euro Upper interval limit... Euro Lower interval limit:... Euro Data source: TWB Level: - legal entity - group - country - region - SBU Usage: - planning - forecast - reporting -... Addressees: - GTG - Management - External stakeholders Frequency: - monthly - quarterly - yearly Responsibility: Mr. xy, GTG x x x x x x Total movement of DTA due to DTA valuation allowances [Euro]

25 25 KPI description Volume of deferred tax liabilities quasi equity Goal:Satisfactory level of liquidity KPI:Volume of deferred tax liabilities quasi equity Definition: Target figure:... Euro Upper interval limit... Euro Lower interval limit:... Euro Data source: TWB Level: - legal entity - group - country - region - SBU Usage: - planning - forecast - reporting -... Addressees: - GTG - Management - External stakeholders Frequency: - monthly - quarterly - yearly Responsibility: Mr. xy, GTG x x x x x x Total amount of DTL, which are more like equity than liabilities [Euro] Explanation / Cause-effect-relations: DTLs can be permanent, and instead of reflecting a future tax payment, the DTL might be more similar to equity. Because many companies are growing and continually adding PP&E, the difference in depreciation methods never reverses, and the DTLs related to depreciation are more like equity than liabilities.

26 26 KPI description Tax cash flow Goal:Satisfactory level of liquidity KPI:Tax cash flow Explanation / Cause-effect-relations: Der Steuer-Cash-flow zeigt den tatsäch- lichen Liquiditätsabfluss durch Steuern im betrachteten Jahr an und dient somit der Liquiditätsplanung. Er gibt an, in welcher Höhe Finanzmittel durch Steuer- zahlungen aus dem Zahlungsmittel- bestand des Unternehmens insgesamt abgeflossen sind. Definition: Target figure:... Euro Data source: TWB Level: - legal entity - group - country - region - SBU Usage: - planning - forecast - reporting -... Addressees: - GTG - Management - External stakeholders Frequency: - monthly - quarterly - yearly Responsibility: Mr. xy, GTG x x x x x x x x x x x x Cash flow tax [Euro] Cash flow tax = current taxes + payments from prior periods – increase of unpaid tax provisions for next period

27 27 KPI description Tax cash flow quota Goal:Satisfactory level of liquidity KPI:Tax cash flow quota Explanation / Cause-effect-relations: Die Relation zwischen Steuer-Cash-Flow und dem operativen Cash-Flow zeigt an, welcher Anteil des operativen Cash- Flows durch Steuerzahlungen ver- braucht wird. Sie ist damit ein Indikator für die verbleibende Liquidität der be- trachteten Gesellschaft. Definition: Target figure:... % Data source: TWB, SQL Level: - legal entity - group - country - region - SBU Usage: - planning - forecast - reporting -... Addressees: - GTG - Management - External stakeholders Frequency: - monthly - quarterly - yearly Responsibility: Mr. xy, GTG x x x x x x Cash flow tax Cash flow operations [%]

28 28 KPI description Cash Tax Rate Goal:Maximum of profitability KPI:Cash Tax Rate ( Total Tax Contribution) Explanation / Cause-effect-relations: A company's overall tax contribution is a measure of the cost of all taxes borne by the company, including labour taxes or contributions borne by the employer, as well as corporate income tax. The Cash Tax Rate adds up all taxes and mandatory contributions borne by the company and expresses the total as a percentage of profits. Definition: Target figure:... % Data source: TWB Level: - legal entity - group - country - region - SBU Usage: - planning - forecast - reporting - … Addressees: - GTG - Management - External stakeholders Frequency: - monthly - quarterly - yearly Responsibility: Mr. xy, GTG x x x x x xx (Volume of current tax paid + Volume of other Taxes) / NIBT [%]

29 29 KPI description Average duration of deferred tax assets Goal:Satisfactory level of liquidity KPI:Average duration of deferred tax assets (DTA) Explanation / Cause-effect-relations: Die durchschnittliche Bindungsdauer der aktiven latenten Steuern zeigt die durchschnittliche verbleibende Verweil- dauer dieser Aktiva an. Je höher die Dauer ist, um so länger müssen bilan- zielle Passiva (im Regelfall passive latente Steuern) zur Finanzierung dieser Aktiva bereitgestellt werden. Definition: Target figure:... years Data source: TWB Level: - legal entity - group - country - region - SBU Usage: - planning - forecast - reporting -... Addressees: - GTG - Management - External stakeholders Frequency: - monthly - quarterly - yearly Responsibility: Mr. xy, GTG x x x x x x To be splitted into affecting and non-affecting in the reporting. Σ (DTA x remaining time in accounts) DTA [years]

30 30 KPI description Average duration of deferred tax liabilities Goal:Satisfactory level of liquidity KPI:Average duration of deferred tax liabilities (DTL) Explanation / Cause-effect-relations: Die durchschnittliche Bindungsdauer der passiven latenten Steuern zeigt die zeitliche Bindung dieser Passiva an, und damit die zeitgleiche zinslose bilanzielle Finanzierung entsprechender Aktiva. Primär sind hierfür zunächst die aktiven latenten Steuern zu verwenden. Definition: Target figure:... years Data source: TWB Level: - legal entity - group - country - region - SBU Usage: - planning - forecast - reporting -... Addressees: - GTG - Management - External stakeholders Frequency: - monthly - quarterly - yearly Responsibility: Mr. xy, GTG x x x x x x Σ (DTL x remaining time in accounts) DTL [years] To be splitted into affecting und non-affecting in the reporting.

31 Profitability Liquidity Risk Optimization and Flexibility Content

32 32 KPI description Expected value of tax audit losses/findings Goal:Satisfactory level of risk optimization and flexibility KPI:Expected value of tax audit losses/findings Explanation / Cause-effect-relations: Der Erwartungswert gibt den wahr- scheinlichen Umfang der Steuernach- zahlungen aufgrund von Betriebsprüfun- gen an. Er setzt sich zusammen aus der vom Steuerexperten geschätzten Wahr- scheinlichkeit der Inanspruchnahme multipliziert mit der potenziellen Höhe dieser betriebsprüfungsbedingten Nachzahlungen. Definition: Target figure:... Euro Data source: offen Level: - legal entity - group - country - region - SBU Usage: - planning - forecast - reporting -... Addressees: - GTG - Management - External stakeholders Frequency: - monthly - quarterly - yearly Responsibility: Mr. xy, GTG x x x x x x x x Probability of expected tax payments x expected tax payments [Euro]

33 33 KPI description Volatility of tax audit losses Goal:Satisfactory level of risk optimization and flexibility KPI:Volatility of tax audit losses Explanation / Cause-effect-relations: Die Schwankungsbreite der Betriebs- prüfungsverluste ist ein Risikomaß zur Messung der potenziellen steuerlichen Nachzahlungen einer Betriebsprüfung. Im Zeitverlauf ist sie ein Indikator der Entwicklung der steuerlich eingegan- genen Risiken / Anerkennungstrends des Unternehmens bei Betriebs-prüfungen. Definition: Target figure:... % Data source:... Level: - legal entity - group - country - region - SBU Usage: - planning - forecast - reporting -... Addressees: - GTG - Management - External stakeholders Frequency: - monthly - quarterly - yearly Responsibility: Mr. xy, GTG x x x x x = ( exp. l. year x – average exp. l.) Standard deviation between expected loss year 1 and average expected loss over time [%]

34 34 KPI description Volatility of ETR Goal:Satisfactory level of risk optimization and flexibility KPI:Volatility of ETR Explanation / Cause-effect-relations: Die Abweichung der ETR von ihrem Durchschnitt im Zeitablauf zeigt die Schwankungsbandbreite der ETR an und ist ein Gesamtindikator der Trend- entwicklung für die Steuerpolitik und die Abweichung vom langfristigen Durch- schnitt des Gesamtkonzerns. Definition: Target figure:... % Data source: TWB Level: - legal entity - group - country - region - SBU Usage: - planning - forecast - reporting -... Addressees: - GTG - Management - External stakeholders Frequency: - monthly - quarterly - yearly Responsibility: Mr. xy, GTG x x x x x x x x x Standard deviation between group ETR year 1 and average group ETR over time [%] = (ETR year x – average ETR)

35 35 KPI description Volume of TLCF Goal:Satisfactory level of risk optimization and flexibility KPI:Volume of TLCF (Tax loss carried forward) Explanation / Cause-effect-relations: Die Summe der Verlustvorträge zeigt die historisch entstandenen, noch nicht ver- wendeten Verluste an. In gleicher Höhe können zukünftig Gewinne verrechnet werden, ohne dass eine Besteuerung eintritt. Das ermöglicht somit steuerliche Flexibilität in der Allokation von Gewin- nen auf einzelne Gesellschaften und beeinflusst die Höhe der laufenden Steuerzahlung. Definition: Target figure:... Euro Data source: TWB Level: - legal entity - group - country - region - SBU Usage: - planning - forecast - reporting -... Addressees: - GTG - Management - External stakeholders Frequency: - monthly - quarterly - yearly Responsibility: Mr. xy, GTG x x x x x x x x xx x Total amount of TLCF (sum of ordinary, state tax and capital losses) [Euro] = TLCF per expiration year

36 36 KPI description Average expiration of TLCF Goal:Satisfactory level of risk optimization and flexibility KPI:Average expiration of TLCF Explanation / Cause-effect-relations: Die durchschnittliche Restlaufzeit von Verlustvorträgen zeigt die durchschnittliche zeitliche Dauer an, in der Verlustvorträge als zukünftiges Gewinnverrechnungspotenzial noch zur Verfügung stehen. Je kürzer die durchschnittliche Restgültigkeitsdauer der Verlustvorträge, um so dringlicher die Zuweisung von Gewinnen, da nach Ablauf keine steuerreduzierenden Effekte mehr wirken. Definition: Target figure:... years Data source: TWB Level: - legal entity - group - country - region - SBU Usage: - planning - forecast - reporting -... Addressees: - GTG - Management - External stakeholders Frequency: - monthly - quarterly - yearly Responsibility: Mr. xy, GTG x x x x x x x Σ (yearly amount of TLCF x remaining time) total amount of TLCF [years]

37 37 KPI description Current expiration of TLCF Goal:Satisfactory level of risk optimization and flexibility KPI:Current expiration of TLCF Explanation / Cause-effect-relations: Die tatsächliche Restlaufzeit von Verlustvorträgen zeigt die zeitliche Dauer an, in der Verlustvorträge als zukünftiges Gewinnverrechnungspoten-zial noch zur Verfügung stehen. Je kürzer die Restgültigkeitsdauer der Verlustvorträge, um so dringlicher die Zuweisung von Gewinnen, da nach Ablauf keine steuerreduzierenden Effekte mehr wirken. Definition: Target figure:... years Data source: TWB Level: - legal entity - group - country - region - SBU Usage: - planning - forecast - reporting -... Addressees: - GTG - Management - External stakeholders Frequency: - monthly - quarterly - yearly Responsibility: Mr. xy, GTG x x x x x x x remaining time of TLCF [years]

38 38 KPI description Tax provisions for risks Goal:Satisfactory level of risk optimization and flexibility KPI:Tax provisions for risks Explanation / Cause-effect-relations: Die Rückstellungen für steuerliche Risiken sind bewertete potenzielle steu- erliche Nachzahlungsrisiken des Unter- nehmens, die jedoch noch nicht den Charakter einer sicheren Verbindlichkeit haben. Sie stellen somit das vollständige monetäre, aktuell bereits ersichtliche und bilanzierungswürdige Ausmaß des Steuerrisikos dar. Definition: Target figure:... Euro Upper interval limit... Euro Lower interval limit:... Euro Data source: TWB Level: - legal entity - group - country - region - SBU Usage: - planning - forecast - reporting -... Addressees: - GTG - Management - External stakeholders Frequency: - monthly - quarterly - yearly Responsibility: Mr. xy, GTG x x x x x x xx x Total amount of tax provisions for risks [Euro] as per IFRS-accounts

39 BACKUP

40 40 Effective tax rate (ETR) Goal:Maximum of profitability KPI:Effective tax rate (ETR) Explanation / Cause-effect-relations: Der Unterschied zur klassischen Steuerplanung liegt in der Berechnungsweise der ETR. Dem Gewinn vor Steuern einer Periode wird die Summe aus aktuellem und latentem Steueraufwand gegenübergestellt. Die Dimension der Kennzahl ist damit %. Zukünftige Steuerzahlungen und Steuererstattungen gehen über den latenten Steueraufwand bzw. –ertrag in die Kennzahl ein, wobei der Zeitpunkt der Realisation des Steueraufwandes / -ertrages jedoch unerheblich ist. Steuerlatenzen ergeben sich durch Differenzen im Bilanzansatz eines Vermögensgegenstandes oder einer Schuld zwischen Handels- und Steuerbilanz. Diese Differenzen können sowohl dem Grunde als auch der Höhe nach bestehen. Im Unterschied zur klassischen Steuerplanung werden bei der Berechnung der ETR nur Sachverhalte betrachtet, die in der Berichtsperiode oder in vorangegangenen Perioden wirtschaftlich verursacht wurden. Planzahlen sind in der Regel zur Berechnung der Kennzahl nicht erforderlich. Eine Ausnahme hiervon bildet der Ansatz oder die Veränderung von aktiven latenten Steuern auf Verlustvorträge, die nur dann gebildet werden dürfen, wenn eine zukünftige Nutzung zumindest wahrscheinlich (Prognose: more likely than not) ist.

41 41 KPI description Present value quota Goal:Maximum of profitability KPI:Present value quota Explanation / Cause-effect-relations: Durch gezielte Sachverhaltsgestaltung sowie durch die Nutzung von Wahlrechten und Spielräumen werden Aufwendungen zeitlich vorgezogen, Erträge in spätere Perioden verlagert und Verlustvorträge möglichst frühzeitig genutzt. Der in der Steuerrechnung auszuweisende Gewinn, welcher die Bemessungsgrundlage der Besteuerung darstellt, wird möglichst weit in die Zukunft verlagert. Hierdurch steigt der Kapitalwert einer Investition, da die zu leistenden Steuerzahlungen in stärkerem Maße der Abzinsung unterliegen. Im Nenner der Present Value Quota steht der über den Planungszeitraum erwartete Profit Before Tax, der nach den Maßgaben der IFRS ermittelt und ebenfalls auf den Planungszeitpunkt abgezinst wurde. Auf diese Weise ergibt sich eine Kennzahl mit einem Wertebereich zwischen (in der Regel) 0 und 1, die im Gegensatz zur ETR den Zeitpunkt der Steuerzahlung und damit den Abfluss liquider Mittel berücksichtigt. Die Ermittlung der Kennzahl zu Planungszwecken ist an die Verfügbarkeit von Prognosen über Ergebnis- und Zahlungsgrößen gebunden. Der Planungsgegenstand ist dabei flexibel zu definieren und kann ein einzelnes Projekt, eine Legaleinheit, einen Geschäftsbereich, regionale / überregionale Aggregate oder den gesamten Konzern umfassen.

42 42 KPI description Ordinary tay on ordinary earnings / Extraordinary tax on extraordinary earnings Goal:Maximum of profitability KPI: Ordinary tax on ordinary earnings / Extraordinary tax on extraordinary earnings Explanation / Cause-effect-relations: Die Aufteilung des gesamten Steueraufwandes in solchen aus laufendem Einkommen und solchem aus außerordentlichem Einkommen ermöglicht eine getrennte Analyse beider Komponenten. Auf diese Weise können steuerlastmindernde und steuerlasterhöhende Effekte, die aus steuerlichen Sonderregelungen für außerordentliche Geschäftsvorfälle herrühren, isoliert betrachtet werden. Dies soll Planungsaktivitäten unterstützen, die nicht das operative Geschäft betreffen w.z.B. Sitzverlagerungen, Akquisitionen, Divestments. Gleichzeitig ist die Steuerquote, mit der das laufende Einkommen belastet wird, frei von Sondereffekten zu erkennen. Planungsobjekte, die hierauf Auswirkungen haben könnten beispielsweise Leasing- oder Finanzierungsmodelle sein. Die Zuordnung der Ordinary / Extraordinary Taxes zu den jeweiligen Einkünften ist schwierig. Im Prinzip müsste geschäftsvorfallbezogen vorgegangen werden und es müssten die jeweils anzuwendenden Sonderregelungen der Jurisdiktion, in der die außerordentlichen Einkünfte erwirtschaftet werden, bekannt sein. Hilfsweise kann auf die Angaben im TWB zurückgegriffen werden. Dies ist zu Planungszwecken aber nur eingeschränkt zielführend.

43 43 KPI description Volume of DTA/DTL / Tax asset and tax liablility quota Goal: Satisfactory level of liquidity KPI: Volume of DTA and DTL / Tax asset and tax liability quota Explanation / Cause-effect-relations: Die absolute Höhe der DTA / DTL ist zunächst ein Hinweis auf den Grad der Abweichung zwischen der Steuerrechnung in der (den) jeweiligen Jurisdiktion(en) und der Bilanzierung nach IAS/IFRS (qualifizierter würde die Aussage, wenn die DTA / DTL ins Verhältnis zur Bilanzsumme gesetzt würden!). Die absolute Höhe der DTA kann darüber hinaus als Risikotreiber angesehen werden, da durch die Änderungen der Werthaltigkeit der Position steuerlicher Aufwand in Form einer Valuation Allowance entstehen kann. Inwieweit ein solches Impairment der DTA Position erfolgswirksam wird, hängt davon ab, ob jene erfolgswirksam oder erfolgsneutral gebildet wurde. Um über die zukünftigen Erfolgswirkungen der Positionen DTA und DTL Klarheit zu gewinnen, sollen die entsprechenden KPIs nach diesem Kriterium unterteilt werden. Werden die Positionen DTA und DTL ins Verhältnis gesetzt, so kann die sich ergebende Quote als Indikator für die Nutzbarkeit der DTA interpretiert werden. Das Verhältnis zwischen aktiven und passiven latenten Steuern zeigt die bilanzielle Liquiditätswirkung / das bilanzielle Finanzierungs- bzw. Kapital-bindungspotenzial, das aus den latenten Steuern herrührt. Ist die Quote größer als eins zeigt sie gleichzeitig Abschreibungsbedarf der aktiven latenten Steuern an.

44 44 Effective tax rate Present value of taxes Present value quota Tax on expenses Volatility of ETR Volume of Current tax Extra/Ordinary tax on extra/ordinary earnings NTDE Tax cash flow Tax cash flow quota Average duration of DTA / DTL Volume of DTL Current expiration of TLCF Volume of DTL quasi equity Expected reversal amount of DTA / DTL Volume of deferred diff movement Volume of current tax risks Volatility of tax audit losses Average expiration of TLCF Expected value of tax audit findings Tax provisions for risks Volume of TLCF Tax on DD movem Volume of deferred tax Tax exempt income Tax Credits WTH Others Volatility of ETR DTL from PPA DTL against equity DTA against equity Cash Tax Rate Volume of other Taxes Volume of Current tax paid DTA Valuation allowances The illustration of the cause-effect-relations of KPIs enables the future users to overview a tax management approach Cause-effect-relations of KPIs Volume of DTA

45 45 Most of the necessary data to calculate the KPIs stem from the Tax Workbook Drivers of KPIs - overview Total Tax Rate Corporation Tax Deferred Assets / Deferred Liabilities Current Tax Losses (volume / expiration) Local / State Tax Tax Credits Current Tax Accruals Data from TOPAS Data from other sources

46 46 Driver tree per TWB category Total tax rate Total Tax RateIncreased corporate tax Tax rates for capital gains / capital losses Local tax rate Corporation tax incl. surcharge tax Reduced corporate tax Driver trees do only illustrate the cause-effect- relations; calculation in accordance with TWB.

47 47 Driver tree per TWB category Corporation tax Corporation Tax Surcharge taxes Tax creditable Other modifications Corporation tax Capital gain tax Net income before taxes on income (as per IAS Accounts) Elimination of profits and losses due to a profit and loss absorption agreement Elimination of partnership income received Non-deductible expenses Tax-exempt income Income taxes separately Capital gains / capital losses in current year Permanent differences from (sub-) consolidation level Deductible other income taxes / GewSt Deductible income taxes / WHT Tax credits deductible Tax base transfer received from partnerships Tax base tansfer received from corporation due to fiscal unity Tax base transfer transferred as partnerships Tax base tansfer transferred as corporation due to fiscal unity Utilization of loss carryforwards Corporation tax increase / reduction

48 48 Driver tree per TWB category Deferred assets / deferred liabilities (volume / average remaining time) Deferred assets / deferred liabilities Sundry intangible assets Assets similar to goodwill Goodwill Tangible assets Financial assets Inventories Accounts receivable trade and services incl. notes Accounts receivable from affiliated companies Accounts receivable from associated companies Accounts receivable from other investments Derivatives, assets Other assets - except any taxes Other assets - taxes on income Other assets - other taxes Cash / marketable securities Debt discount DTA - except tax credits Other deferred charges Equity (except NIBT on income) NIBT on income Shares in consolidated group companies held by third parties Provisions for pensions and similar obligations Provisions for other post-employment benefits Deferred tax provisions - except tax cushions Deferred tax provisions - tax cushions Deferred tax provisions - taxes on attributable income Tax provisions - taxes on income Tax provisions - other taxes Sundry provisions Financial liabilities Loans payable to social insurances Accounts payable trade & services Accounts payable to affiliated comp. Accounts payable to associated comp. Accounts payable to other investments Tax liabilities - income tax Derivatives, liabilities Other liabilities Deferred income Assets similar to goodwill - depriciation Sundry intangible assets- depriciation Tangible assets - depriciation Financial assets - depriciation Inventories - depriciation Others - depriciation Other taxfree reserves SOPO §6b EStG (Germany) Tax liabilities - others

49 49 Driver tree per KPI Effectice tax rate Effective tax rate Current tax losses Local / state tax Corporation tax Deferred assets (volume) / deferred liabilities (volume) Total tax rate Tax credits detailed driver tree, see page 46 detailed driver tree, see page 47 detailed driver tree, see page 48 detailed driver tree, see page 52 detailed driver tree, see page 54 detailed driver tree, see page 55 EBT

50 50 Driver tree per KPI Present value of taxes Current tax losses Local / state tax Corporation tax Total tax rate Tax credits detailed driver tree, see page 46 detailed driver tree, see page 47 detailed driver tree, see page 52 detailed driver tree, see page 54 detailed driver tree, see page 55 Interest

51 51 Driver tree per KPI Present value quota Current tax losses Local / state tax Corporation tax Total tax rate Tax credits detailed driver tree, see page 46 detailed driver tree, see page 47 detailed driver tree, see page 52 detailed driver tree, see page 54 detailed driver tree, see page 55 Interest EBT

52 52 Driver tree per TWB category Current tax losses (volume) Current tax losses (volume) Volume of tax credits (unutilized) - local/state tax / GewSt - Volume of tax credits (unutilized) - capital losses - Volume of tax credits (unutilized) - corporate tax - PROPOSAL

53 53 Driver tree per TWB category Current tax losses (expiration) Current tax losses (expiration) Expiration of tax credits - local/state tax / GewSt - Expiration of tax credits - capital losses - Expiration of tax credits - corporate tax - Expiring in 2006 Expiring in 2007 Expiring in 2008 Expiring in 2009 Expiring in later than 2009 No Expiration Expiring in 2006 Expiring in 2007 Expiring in 2008 Expiring in 2009 Expiring in later than 2009 No Expiration Expiring in 2006 Expiring in 2007 Expiring in 2008 Expiring in 2009 Expiring in later than 2009 No Expiration

54 54 Driver tree per TWB category Local / state tax Local / State Tax Tax base transfer received from corporations due to fiscal unity Tax base transfer received from partnerships Subtractions state tax Corrections prior year Add-ons state tax Tax base transfer transferred from corporations due to fiscal unity Tax base transfer transferred from partnerships

55 55 Driver tree per TWB category Tax credits (volume) Tax credits (volume) Volume of tax credits (unutilized) - R&D tax credits - Volume of tax credits (unutilized) - other - Volume of tax credits (unutilized) - foreign tax credits -

56 56 Driver tree per TWB category Tax credits (expiration) Tax credits (expiration) Expiration of tax credits - R&D tax credits - Expiration of tax credits - other - Expiration of tax credits - foreign tax credits - Expiring in 2006 Expiring in 2007 Expiring in 2008 Expiring in 2009 Expiring in later than 2009 No Expiration Expiring in 2006 Expiring in 2007 Expiring in 2008 Expiring in 2009 Expiring in later than 2009 No Expiration Expiring in 2006 Expiring in 2007 Expiring in 2008 Expiring in 2009 Expiring in later than 2009 No Expiration

57 57 Driver tree per KPI Tax on expenses Current tax losses Local / state tax Corporation tax Deferred assets (volume) / deferred liabilities (volume) Total tax rate Tax credits detailed driver tree, see page 46 detailed driver tree, see page 47 detailed driver tree, see page 48 detailed driver tree, see page 52 detailed driver tree, see page 54 detailed driver tree, see page 55 Expenses

58 58 Driver tree per KPI Ordinary tax on ordinary earnings Ordinary tax on ordinary earnings Current tax losses Local / state tax Corporation tax Total tax rate Tax credits detailed driver tree, see page 46 detailed driver tree, see page 47 detailed driver tree, see page 52 detailed driver tree, see page 54 detailed driver tree, see page 55 Ordinary earnings Deferred assets (volume) / deferred liabilities (volume) detailed driver tree, see page 48

59 59 Driver tree per KPI Extraordinary tax on extraordinary earnings Extraordinary tax on extraordinary earnings Current tax losses Local / state tax Corporation tax Total tax rate Tax credits detailed driver tree, see page 46 detailed driver tree, see page 47 detailed driver tree, see page 52 detailed driver tree, see page 54 detailed driver tree, see page 55 Extraordinary earnings

60 60 Driver tree per KPI Volume of current taxes Current tax losses Local / state tax Corporation tax Total tax rate Tax credits detailed driver tree, see page 46 detailed driver tree, see page 47 detailed driver tree, see page 52 detailed driver tree, see page 54 detailed driver tree, see page 55

61 61 Driver tree per KPI Volume of deferred tax assets Volume of deferred tax assets Deferred assets (volume) Corporation tax Total tax rate detailed driver tree, see page 46 detailed driver tree, see page 47 detailed driver tree, see page 48

62 62 Driver tree per KPI Volume of deferred tax liabilities Volume of deferred tax liabilities Deferred liabilities (volume) Corporation tax Total tax rate detailed driver tree, see page 46 detailed driver tree, see page 47 detailed driver tree, see page 48

63 63 Driver tree per KPI Tax asset and liability quota Tax asset and liability quota Deferred assets (volume) / deferred liabilities (volume) Corporation tax Total tax rate detailed driver tree, see page 46 detailed driver tree, see page 47 detailed driver tree, see page 48

64 64 Driver tree per KPI Tax cash flow Local / state tax Corporation tax Total tax rate Tax credits detailed driver tree, see page 46 detailed driver tree, see page 47 detailed driver tree, see page 54 detailed driver tree, see page 55

65 65 Driver tree per KPI Tax cash flow quota Local / state tax Corporation tax Total tax rate Tax credits detailed driver tree, see page 46 detailed driver tree, see page 47 detailed driver tree, see page 54 detailed driver tree, see page 55 Total cash flow operations

66 66 Driver tree per KPI Average duration of DTA / DTL Average duration of DTA Deferred assets (average remaining time) Deferred assets (volume) detailed driver tree, see page 48 detailed driver tree, see page 48 Average duration of DTL Deferred liabilities (average remaining time) Deferred liabilities (volume) detailed driver tree, see page 48 detailed driver tree, see page 48

67 67 Driver tree per KPI Expected value of tax audit losses / volatility of tax audit losses Expected value of tax audit losses Probability of expected tax payments for audit reason Expected tax payments for audit reason Volatility of tax audit losses Probability of expected tax payments for audit reason Expected tax payments for audit reason

68 68 Driver tree per KPI Volatility of ETR Current tax losses Local / state tax Corporation tax Deferred assets (volume) / deferred liabilities (volume) Total tax rate Tax credits detailed driver tree, see page 46 detailed driver tree, see page 47 detailed driver tree, see page 48 detailed driver tree, see page 52 detailed driver tree, see page 54 detailed driver tree, see page 55 EBT

69 69 Driver tree per KPI Average expiration of TLCF / Volume of TLCF Average expiration of TLCF Tax credits (volume and expiration) Current tax losses (volume and expiration) detailed driver tree, see pages 52, 53 detailed driver tree, see pages 55, 56 Volume of TLCF Tax credits (volume and expiration) Current tax losses (volume and expiration) detailed driver tree, see pages 52, 53 detailed driver tree, see pages 55,56

70 70 Driver tree per KPI Tax provision for risks Surcharge taxes Tax creditable Other modifications Corporation tax Capital gain tax Tax-exempt income Income taxes separately Capital gains / capital losses in current year Permanent differences from (sub-) consolidation level Deductible other income taxes / GewSt Deductible income taxes / WHT Tax credits deductible Tax base transfer received from partnerships Tax base tansfer received from corporation due to fiscal unity Tax base transfer transferred as partnerships Tax base tansfer transferred as corporation due to fiscal unity Utilization of loss carryforwards Corporation tax increase / reduction Current Tax Accruals


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