- 3rd Interim Report 2022
- 2nd Interim Report 2022
- 1st Interim Report 2022
- Annual Report 2021
- 3rd Interim Report 2021
- 2nd Interim Report 2021
- 1st Interim Report 2021
- Annual Report 2020
- 3rd Interim Report 2020
- 2nd Interim Report 2020
- 1st Interim Report 2020
- Annual Report 2019
- 3rd Interim Report 2019
- 2nd Interim Report 2019
- 1st Interim Report 2019
- Annual Report 2018
- 3rd Interim Report 2018
- 2nd Interim Report 2018
- 1st Interim Report 2018
- Annual Report 2017
- 3rd Interim Report 2017
- 2nd Interim Report 2017
- 1st Interim Report 2017
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Income taxes
Income tax expense increased by CHF 48 million year-on-year, from CHF 271 million to CHF 319 million, corresponding to an effective income tax rate of 14.8% (prior year: 15.1%) The tax expense in 2021 was positively impacted by the low taxation of income from participations and the capitalisation of deferred tax assets in connection with a change in Italian tax laws. Swisscom anticipates a future effective consolidated tax rate of 19.5%. The CHF 30 million decrease in income taxes paid to CHF 279 million was mainly due to the difference between the expense recorded and the payment of income taxes due.
In CHF million, except where indicated | Switzerland | Italy | Other countries | Total | ||||
---|---|---|---|---|---|---|---|---|
2021 financial year | ||||||||
Income before income taxes | 1,827 | 306 | 19 | 2,152 | ||||
Income tax expense | 339 | (22) | 2 | 319 | ||||
Effective income tax rate | 18.6% | –7.2% | 10.5% | 14.8% | ||||
Income taxes paid | 264 | 15 | – | 279 | ||||
2020 financial year | ||||||||
Income before income taxes | 1,669 | 108 | 22 | 1,799 | ||||
Income tax expense | 242 | 25 | 4 | 271 | ||||
Effective income tax rate | 14.5% | 23.1% | 18.2% | 15.1% | ||||
Income taxes paid | 299 | 10 | – | 309 |
Swisscom operates principally in Switzerland and Italy, so the information on income taxes is divided into Switzerland, Italy and other countries.