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|
(€ million) |
2009 |
2010 |
2011 |
Change |
Change % |
|
Current taxes |
402 |
616 |
786 |
170 |
27.6 |
|
(Prepaid) deferred taxes |
|
|
|
|
|
|
Deferred taxes |
(44) |
(74) |
(79) |
(5) |
6.8 |
|
Prepaid taxes |
(11) |
(10) |
11 |
21 |
|
|
|
(55) |
(84) |
(68) |
16 |
(19.0) |
|
Deferred tax adjustment at 31.12.2010 (special item) |
|
188 |
188 |
| |
|
Tax rate (%) |
32.2 |
32.5 |
53.4 |
20.9 |
64.3 |
|
|
347 |
532 |
906 |
374 |
70.3 |
Income taxes (€906 million) rose by €374 million, or 70.3%, compared with 2010, owing mainly to higher expenses from applying the Robin Hood Tax to the natural gas distribution and transportation segments (€344 million, of which €169 million in higher current taxes and €175 million in higher deferred taxes, owing mainly to the deferred tax adjustment at 31 December 2010).
The tax rate was 53.4%. The difference between the effective tax rate (53.4%) and the theoretical tax rate (33.0%), equal to 20.4 percentage points, is due mainly to the effects of applying additional IRES to the natural gas distribution and transportation segments (+20.3%), and to the increased impact of regional production tax (IRAP) rates applied in certain regions above the normal rate (+0.6%), offset partially by the effects of valuing equity investments using the equity method (-0.7%).
The adjusted tax rate, calculated as the ratio between taxes for the year net of special items and pre-tax profit, was 42.3% (32.5% in 2010).
