10. Current income tax assets/liabilities and other current tax assets/liabilities
Current income tax assets/liabilities and other current tax assets/liabilities break down as follows:
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(€ million) |
31.12.2014 |
31.12.2015 |
Current income tax assets |
48 |
54 |
- IRES |
35 |
32 |
- IRAP |
13 |
8 |
- Tax credits on withholding tax on foreign dividends |
|
12 |
- Other assets |
|
2 |
Other current tax assets |
10 |
8 |
- VAT |
2 |
2 |
- Other taxes |
8 |
6 |
|
58 |
62 |
|
|
|
Current income tax liabilities |
(1) |
(1) |
- IRES |
(1) |
|
- IRAP |
|
(1) |
Other current tax liabilities |
(20) |
(50) |
- VAT |
(6) |
(35) |
- IRPEF withholdings for employees |
(13) |
(13) |
- Other taxes |
(1) |
(2) |
|
(21) |
(51) |
Current income tax assets, amounting to €54 million (€48 million at 31 December 2014) relate mainly to: (i) IRES credits to cover the excess amount paid under the national tax consolidation scheme (€16 million); (ii) credits for more tax advances paid in relation to the additional IRES (€12 million euro); (iii) tax credits on withholding taxes paid on foreign dividends (€12 million euro); and (iv) IRAP credits (€8 million).
Other current tax assets, amounting to €8 million (€10 million at 31 December 2014) refer to reimbursements from the tax authorities for registration tax (€2 million), VAT receivables (€2 million) and receivables for consumption tax (€2 million).
Other current tax liabilities, amounting to €50 million (€20 million at 31 December 2014) mainly refer to payables to the tax authorities for Group VAT for December 2015 (€33 million) and IRPEF withholdings for employees (€13 million).
Taxes pertaining to the year under review are shown in Note 30 – “Income taxes”.