Page 222 - ENAV eng_Relazione_Finanziaria_Annuale_2014

220 ENAV – 2014 Financial Statements

28. Income taxes

The income tax charge for the year amounts to ¤24,752 thousand and may
be analyzed as follows:

IRES corporate income tax 31.12.2014 31.12.2013 Change
charge 4,768 14,325 (9,557)

IRAP regional production 20,920 22,544 (1,624)
tax charge (126) 105 (231)

Prior year taxes 25,562 36,974 (11,412)
(1,332) 1,067 (2,399)
Total current taxes
522 333 189
Deferred tax assets -
(income)/expense 24,752 38,374 (13,622)

Deferred tax liabilities -
expense

Total current and deferred
taxes

Reference should be made to note 8 for further details on the recognition
of deferred tax assets and liabilities.

The following table provides an analysis of the difference between
theoretical and effective tax rates for IRES corporate income tax:

2014 2013

Taxable Tax charge Taxable Tax charge
profit profit

Income before income 63,579 88,034
taxes
Theoretical rate (41,604) 27.5% (34,414) 27.5%
Theoretical IRES charge (4,635) 17,484 (1,529) 24,209
Permanent differences (11,440) (9,463)
Temporary differences (1,275)
Actual IRES charge 4,768 (421)
Effective rate 7.50% 14,325
16.27%