In € million

 

 

 

FY 2018

 

FY 2017

Profit for the period before taxes

 

a

 

1,220

 

1,133

Earnings from associates & joint ventures

 

b

 

74

 

71

Interests and realized foreign exchange gains (losses) on the RusVinyl joint venture

 

c

 

(21)

 

(24)

Income taxes

 

d

 

(305)

 

(299)

Tax rate

 

e = -d/(a-b-c)

 

26.1%

 

27.5%

The 1.4 percentage point reduction of the underlying tax rate limited tax impact of the higher tax base.