Section 20 – Income taxes for the year relating to current operations – Item 290

20.1 Income taxes for the year relating to current operations: breakdown

Income components/Sectors 31.12.201431.12.2013
1. Current tax expense (-) (50.656) (71.528)
2. Changes in current taxes of previous years (+/-) - 1.521
3. Reductions in current taxes for the year (+) - -
3.bis Reductions in current tax for the year for tax credits as per Law n. 214/2011 (+) - -
4. Changes in deferred tax assets (+/-) 4.388 9.381
5. Changes in deferred tax liabilities (+/-) (2.799) 2.206
6. Tax expense for the year (-) (-1+/-2+3+/-4+/-5) (49.067) (58.420)

20.2 Reconciliation between theoretical tax charges and effective tax charges for the year

Items/Components31.12.2014
Pre-tax profit (loss) for the year from continuing operations 144.943
Corporate tax – theoretical tax charge (36%) (39.859)
  - Effect of non-taxable income and other reductions - permanent 2.684
  - Effect of undeductible expenses and other increases – permanent (1.517)
  - Benefits from the application of national tax consolidation 407
  - Non-current corporate tax (IRES) (734)
  - Deferred non-current corporate tax 671
  - Reconciliation between tax and statutory amounts -
  - Effect of changes in tax rates on deferred taxes -
Corporate tax – Effective tax charges (38.348)
Regional tax on productivity (IRAP) – theoretical tax charges (5,57%) (8.073)
  - Effect of income/charges that are not part of the taxable base (2.246)
  - Effect of other changes 3
  - Non-current regional tax on productivity (IRAP) (16)
Regional tax on productivity (IRAP) – Effective tax charges (10.332)
Other taxes (387)
Effective tax charges for the year (49.067)

Last updated on 2015-02-18