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Income taxes

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(€ million)

2011

2012

2013

Change

% Change

Current taxes

786

726

793

67

9.2

(Prepaid) deferred taxes

 

 

 

 

 

Deferred taxes

(79)

(127)

(87)

40

(31.5)

Prepaid taxes

11

(6)

(16)

(10)

 

 

(68)

(133)

(103)

30

(22.6)

Deferred tax adjustment at 31 December 2010 (special item)

188

 

 

 

 

Tax rate (%)

53.4

43.2

42.9

(0.3)

 

 

906

593

690

97

16.4

Income taxes (€690 million) increased by €97 million, or 16.4%, compared with 2012, due mainly to the increase in pre-tax profit (+€235 million) on 2012.

The tax rate was 42.9% (43.2% in 2012). The decrease was due essentially to higher financial expense in 2012, non-deductible for IRAP purposes.

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