|Millions of euro|
|Adjustments for income taxes related to prior years||(178)||(319)||141||-44.2%|
|Deferred tax liabilities||(250)||489||(739)||-|
|Deferred tax assets||407||(628)||1,035||-|
Income taxes for 2013 amounted to €2,437 million, equal to 33.8% of taxable income, compared with 62.9% in 2012.
These developments reflect the recognition in 2012 of the impairment losses on goodwill, which did not generate a corresponding tax benefit, and the impact of the increase in essentially tax-exempt gains recognized in 2013, as well as adjustments of taxes for previous years, which include an adjustment of €56 million of the receivable in respect of the request for the IRES/IRAP reimbursement made under the provisions of Article 4, paragraph 12, of Decree Law 16 of March 2, 2012.
Developments in deferred tax assets and liabilities reflect the new international accounting standards, which had a significant impact on deferred tax assets in respect of employee benefits, the adjustment recognized in 2012 of the deferred taxes of the Chilean and Slovakian companies following the rise in tax rates in those two countries as from January 1, 2013, and changes in provisions for risks recognized in 2012 and 2013.
The following table reconciles the theoretical tax rate with the effective tax rate. Please note that the estimated tax liability of Group companies outside of Italy is €890 million (€1,025 million in 2012).
|Millions of euro|
|Income before taxes||7,217||-||3,882||-|
|Theoretical tax effect on impairment losses on goodwill||205||2.8%||707||18.2%|
|Permanent differences, effect of different foreign tax rates, and minor items||(281)||-3.9%||69||1.8%|
|IRES surtax (Decree Law 112/2008)||363||5.0%||495||12.8%|
|Difference on estimated income taxes from prior years for Italian companies||(174)||-2.4%||(272)||-7.0%|