23. Income Taxes

Loss carryforwards amounted to CHF 10.0 million (2018: CHF 9.9 million) in total at the end of the reporting year. No loss carryforwards were included in the calculation of the deferred income tax assets (2018: CHF 0.0 million). The impact on the tax on earnings of unrecognised loss carryforwards was CHF 2.1 million in the reporting year (2018: CHF 2.4 million). In the reporting year no unrecognised loss carryforwards were used (2018: CHF -3.7 million). There was no impact in the reporting year on income taxes due to the use of unrecognized losses carried forward (2018: CHF -0.7 million). In the reporting year, as in the previous year, there was no impact due to the use or expiry of unrecognised loss carryforwards.

The country-specific tax rates that apply to the calculation of the deferred taxes on earnings range from 11.0% to 25.0% (2018: 7.8% to 27.9%).

The weighted average tax rate to be applied based on the ordinary result is 20.0% (2018: 18.3%).