Notes to the consolidated financial statements (IFRS)

9. INCOME TAXES    
     
EUR million 1 Jan–31 Dec 2014 1 Jan–31 Dec 2013
Current taxes 18.9 16.0
Change of deferred taxes 0.9 1.3
Taxes for prior years 1.8 -0.4
Total taxes in income statement 21.6 16.9
     
Income tax reconciliation    
Profit before taxes 56.6 79.1
Tax calculated at the domestic corporation tax rate of 20% (24.5% in 2013) 11.3 19.4
Effect of different tax rates in foreign subsidiaries 0.6 -1.6
Taxes for prior years 1.8 -0.4
Income not subject to tax -0.2 -0.2
Expenses not deductible for tax purposes 1.7 1.0
Unrecognized tax losses for the period 0.9 0.4
Utilization of previously unrecognized tax losses -1.0 -1.6
Recognized previously unrecognized tax losses -0.2 -
Reassessment of deferred tax 1.1 -1.5
Deferred tax resulting from change in tax rate - 1.6
Impairment loss 7.9 0.6
Share of joint ventures´ results reported net of tax -1.1 -1.8
Other items -1.2 1.0
Income taxes in the consolidated income statement 21.6 16.9
     
Effective tax rate 38.2 21.4
     
The tax charge/credit relating to components of other comprehensive income
 
  1 Jan–31 Dec 2014 1 Jan–31 Dec 2013
Deferred tax    
Employee benefits (IAS 19) 2.9 -2.2
Fair value adjustment (Cash flow hedging, note 28) -0.3 0.5