Page 197 - ENAV eng_Relazione_Finanziaria_Annuale_2014

Notes to the Financial Statements of ENAV SpA 195

Current tax receivables amount to ¤74,571 thousand and consist of the
following balances.

Due from the tax 31.12.2014 31.12.2013 Change
authorities for VAT
60,990 45,174 15,816
IRES for the year 9,912 1,482 8,430
1,605
IRAP for the year 2,064 807 798
74,571 1,848 216
Receivable for other 49,311 25,260
current taxes

Total

Of the total receivable due from the tax authorities for VAT amounting to
¤60,990 thousand, ¤41,899 thousand relates to VAT for which a refund
was requested 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 change of ¤15,816 thousand consists of the net
effect of a new receivable of ¤19,786 thousand arising during the year plus
interest income of ¤683 thousand accruing during 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of a VAT refund of ¤3,609 thousand for which a request was originally
made in the second quarter of 2012. A request for a refund of ¤19 million
was made on filing the 2014 VAT return in February 2015.

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 ¤4,768 thousand being the portion of
IRESrelating to the year.

IRAP for the year consists of the receivable due from the tax authorities for
the amount stated in the Unico 2014 tax return plus tax paid on account
during the year, leading to a total of ¤22,525 thousand, which less tax of
¤20,920 thousand relating to 2014 amounts to a receivable of ¤1,605
thousand.

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.