INCOME TAXES

 

This item consists of the following:

 

(in thousands of euro)

2010

2009

Current taxes

4,443

5,602

Deferred taxes

(767)

(316)

Income (expense) from participation in tax consolidation

(521)

--

Total

3,155

5,286

RECONCILIATION OF THE THEORETICAL AND EFFECTIVE TAX LIABILITY

 

Taxable income

Tax rate %

Amount of tax

RESULT BEFORE TAXES

(17,871)

27.5

(4,914)

Effect of increases (decreases) compared to ordinary tax rate

 

 

 

- Dividends

(5,537)

27.5

(1,523)

- Temporary differences deductible in subsequent periods

338

27.5

93

- Deductible temporary differences from prior periods

(374)

27.5

(103)

- Non-deductible costs

12,703

27.5

3,493

Other sundry permanent differences

(81)

27.5

(22)

SUB-TOTAL

(10,822)

27.5

(2,976)

Adjustments to taxable income for participation in national tax consolidation

(5,336)

27.5

(1,467)

Taxable income / Income tax for the year

(16,158)

27.5

(4,443)

 

Note: Because of its specific characteristics, IRAP was not considered for the purposes of this chart, which refers just to IRES