20.1 Current tax expense: composition

Income components/Sectors

31.12.2010

31.12.2009

1.

Current tax expense (-)

(12,357)

(12,341)

2.

Changes in current taxes of previous years (+/-)

(279)

501

3.

Reductions in current taxes for the year (+)

4.

Changes in deferred tax assets (+/-)

2,322

3,165

5.

Changes in deferred tax liabilities(+/-)

(921)

(84)

6.

Tax expense for the year (-)(-1+/-2+3+/-4+/-5)

(11,235)

(8,759)

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

Items/Amounts

31/12/2010

Pre-tax profit (loss) for the year from continuing operations

29,861

Corporate tax – theoretical tax charge (27.5%)

(8,212)

- Effect of income entirely or partially untaxable

603

- Effect of charges entirely or partially non deductible

(622)

- Benefits from the application of national tax consolidation

907

- Effect of other changes

18

- Non-current corporate tax (IRES)

(293)

- Deferred non-current corporate tax

267

Corporate tax – Effective tax charges

(7,332)

Regional tax on productivity (IRAP) – theoretical tax charges (4.82%)

(1,439)

- Effect of income/charges that are not part of the taxable base

(2,118)

- Effect of other changes

-

- Non-current regional tax on productivity (IRAP)

13

Regional tax on productivity (IRAP) – Effective tax charges

(3,544)

Substitute tax

 

-

Other taxes

(359)

Effective tax charges for the year

(11,235)