Annual Accounts and Report as at 30 June 2011 Draft - Mediobanca

Section 14Asset heading 140 and Liability heading 80: Tax assets andliabilities14.1 Advance tax assets30/6/11 30/6/10Corporate income tax (IRES) 546,500 586,926Regional production tax (IRAP) 44,951 36,444Total 591,451 623,37014.2 Deferred tax liabilities30/6/11 30/6/10Corporate income tax (IRES) 298,343 306,674Regional production tax (IRAP) 14,718 8,086Total 313,061 314,76014.3 Changes in advance tax during the period30/6/11 30/6/101. Opening balance 512,720 413,2682. Additions 59,245 121,7312.1 Advance tax originating during the period 54,657 121,576a) for previous years — 8,101b) due to changes in accounting policies — —c) amounts written back 51 63d) other additions 54,606 133,4122.2 New taxes or increases in tax rates 3,822 —2.3 Other additions 766 1553. Reductions 49,598 22,2793.1 Advance tax reversed during the period 41,750 17,956a) reclassifications 40,534 17,218b) amounts written off as unrecoverable — —c) due to changes in accounting policies — —d) other 1,216 7383.2 Reductions in tax rates — —3.3 Other reductions 7,848 4,3234. Balance at end of period 522,367 512,720– 113