| Download XLS (16 kB) |
(€ million) |
2010 |
2011 |
2012 |
Change |
% change |
Current taxes |
616 |
786 |
726 |
(60) |
(7.6) |
(Prepaid) deferred taxes |
|
|
|
|
|
Deferred taxes |
(74) |
(79) |
(127) |
(48) |
60.8 |
Prepaid taxes |
(10) |
11 |
(6) |
(17) |
|
|
(84) |
(68) |
(133) |
(65) |
95.6 |
Deferred tax adjustment at 31 December 2010 (special item) |
|
188 |
|
(188) |
(100.0) |
Tax rate (%) |
32.5 |
53.4 |
43.2 |
(10.2) |
|
|
532 |
906 |
593 |
(313) |
(34.5) |
Income tax (€593 million) fell by €313 million, or 34.5%, compared with 2011, due mainly to: (i) the reduction in profit before taxes (-€324 million compared with 2011), due to higher financial expense arising from the early extinguishment of hedging derivatives; and (ii) the tax expense (+€188 million) arising from the one-off adjustment of deferred tax at 31 December 2010 following the application of the Robin Hood Tax, which came into force on 13 August 2011.
The tax rate for 2012, equal to 43.2%, fell by 10.2 percentage points compared with the previous year, due essentially to the one-off adjustment of deferred tax at 31 December 2010, carried out in 2011 following the application of the Robin Hood Tax.
