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/Sectors31.12.201631.12.2015
1.Current tax expense (-)(35,306)(80,121)
2.Changes in current taxes of previous years (+/-)(2,227)(242)
3.Reductions in current taxes for the year (+)343-
3.bisReductions in current taxes for the year for tax credits as per Italian Law no. 214/2011 (+)--
4.Changes in deferred tax assets (+/-)2,763952
5.Changes in deferred tax liabilities (+/-)1,886(4,212)
6.Tax expense for the year (-) (-1+/-2+3+3 bis+/-4+/-5)(32,541)(83,623)
 

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

Items/Components31.12.2016
Pre-tax profit (loss) for the year from continuing operations720,526
Corporate tax (IRES) – theoretical tax charge (27,5%)(198,145)
- effect of non-taxable income and other reductions - permanent176,900
- Effect of non-deductible charges and other increases - permanent(2,624)
- benefits from the application of national tax consolidation -
- non-current corporate tax(2,012)
- deferred non-current corporate tax1,096
- effect of other changes(48)
Corporate tax – Effective tax charges(24,833)
Regional tax on productive activities (IRAP) – theoretical tax charges (5,57%)(40,133)
- effect of income/charges that are not part of the taxable base32,880
- non-current regional tax on productive activities(212)
- deferred non-current regional tax on productive activities222
Regional tax on productive activities – Effective tax charges(7,243)
Other taxes(465)
Effective tax charges for the year (32,541)