Page 111 - ENAV eng_Relazione_Finanziaria_Annuale_2014

Notes to the Consolidated Financial Statements of the Enav Group 109

Current tax receivables amount to ¤82,573 thousandand consist of the
following balances.

Due from the tax 31.12.2014 31.12.2013 Change
authorities for VAT
68,876 52,016 16,860
IRES for the year 9,912 1,482 8,430
1,672 807
IRAP for the year 2,113 1,893 865
220
Receivable for other 82,573 56,198 26,375
current taxes

Total

Of the total receivable due from the tax authorities for VAT amounting to
¤68,876 thousand, ¤41,899 thousand relates to VAT for which the parent
company requested a refund in both 2012 and 2014 and consists of a
principal of ¤41 million plus interest income of ¤899 thousand accruing
at the legal rate of 2% per annum. The net variationof ¤16,860 thousand
consists of the net effect of a new receivable of ¤19,786 thousand arising
during the year plus interest income of ¤683 thousand accruedduring
the year less the receipt of a VAT refund of ¤3,609 thousand for which a
request was originally made in the second quarter of 2012.

IRES for the year consists of the 2013 receivable balance plus the tax
on account paid in 2014 amounting to ¤14,663 thousand, in addition to
retentions of ¤17 thousand, less the portion of IRES relating to the year.

IRAP for the year consists of the receivable due from the tax authorities
for the amount stated in the previous year’s tax return plus tax on account
paid by the Group during the year, less the portion of the tax relating to
2014.

The receivable for other current taxes mainly relates to taxes paid abroad
of ¤402 thousand and taxes of ¤1,662 thousand for which a refund has
been requested pursuant to article 6 of Decree Law no. 185/2008 for the
excess IRES paid in previous years arising from taxable profits from which
10% of the IRAP charge was not deducted.