Annual Report 2012 - Indesit

Consolidated financial statements at 31 December 2012 – Notes
The lower incidence of taxation on pre-tax profit was principally attributable to the tax liability of 8.4
million euro recognized in 2011. This was recognised following objections made to Indesit Company
S.p.A. by the Marche Tax Authorities about transfer pricing, and the interest charged on the deferred
payment terms allowed to Group companies.
The following table reconciles the theoretical tax charge, determined using the current tax rate in Italy,
with the tax charge reported in the consolidated financial statements:
(million euro) Year 2012 Year 2011
Profit before tax 102.3 113.2
Tax rate 27.5% 27.5%
Theoretical tax charge (28.1) (31.1)
Effective tax charge (40.0) (54.2)
Difference (11.9) (23.1)
Effects relating to the Parent and companies based in Italy
IRAP (4.1) (5.6)
Effect of taxation on dividends of subsidiaries to be distributed (0.0) (2.9)
Other effects (9.8) (14.4)
Total effects relating to the Parent and companies based in Italy (14.0) (23.0)
Effects relating to companies operating in other countries and tax differentials
with respect to companies based in Italy 2.1 (0.1)
Total difference (11.9) (23.1)
8.8 Results
attributable to
non-controlling
interests
The results attributable to non-controlling interests relate to Fabrica Portugal S.A.
64