20. Income Taxes

Loss carryforwards amounted to CHF 9.0 million (2020: CHF 15.5 million) in total at the end of the reporting year. No loss carryforwards were included in the calculation of the deferred income tax assets (2020: CHF 4.5 million). The impact on the tax on earnings of unrecognised loss carryforwards was CHF 2.2 million in the reporting year (2020: CHF 2.6 million). In the reporting year CHF 6.0 million unrecognised loss carryforwards were used (2020: CHF 3.5 million). There was an impact of CHF -1.1 million in the reporting year on income taxes due to the use of unrecognized losses carried forward (2020: CHF -0.6 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 11.6% to 25.0% (2020: 11.0% to 25.0%).

The weighted average tax rate to be applied based on the ordinary result is 19.1% (2020: 18.3%).