Income taxes
| In CHF million, except where indicated | Switzerland | Italy | Other | Total | ||||
|---|---|---|---|---|---|---|---|---|
| 2023 financial year | ||||||||
| Income before income taxes | 2,040 | 30 | 5 | 2,075 | ||||
| Income tax expense | 346 | 19 | (1) | 364 | ||||
| Effective income tax rate | 17.0% | 63.3% | –20.0% | 17.5% | ||||
| Income taxes paid | 226 | 57 | 30 | 313 | ||||
| 2022 financial year | ||||||||
| Income before income taxes | 1,779 | 168 | 16 | 1,963 | ||||
| Income tax expense | 316 | 42 | 2 | 360 | ||||
| Effective income tax rate | 17.8% | 25.0% | 12.5% | 18.3% | ||||
| Income taxes paid | 361 | 17 | – | 378 | ||||
The effective income tax rate is 17.5% (prior year: 18.3%). Swisscom anticipates a future effective consolidated tax rate of 19%. The CHF 65 million drop in income taxes paid to CHF 313 million was attributable to back payments made in the prior year for previous financial years.