24 Income taxes
Income taxes for the period, which amounted to €183 million (€185 million in the first half of 2016), can be broken down as follows:
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|
First half |
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|
2016 |
2017 |
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(€ millions) |
IRES |
IRAP |
Total |
IRES |
IRAP |
Total |
Current taxes |
170 |
30 |
200 |
168 |
31 |
199 |
Current taxes for the period |
170 |
30 |
200 |
168 |
31 |
199 |
Deferred and prepaid taxes |
(7) |
(8) |
(15) |
(16) |
|
(16) |
Deferred taxes |
(1) |
(8) |
(9) |
(9) |
|
(9) |
Prepaid taxes |
(6) |
|
(6) |
(7) |
|
(7) |
|
163 |
22 |
185 |
152 |
31 |
183 |
The impact of taxes on pre-tax profit for the period (tax rate) was 26.6% (33.7% in the first half of 2016) in view of the theoretical tax rate of 28.07% (32.24% in the first half of 2016), which is obtained by applying the statutory tax rate of 24.0% (IRES)49 to pre-tax profit and 3.9% (IRAP) to the net value of production.
49 27.5% in the first half of 2016.