FINANCIAL REPORT 2016
2.6.8. COST OF RISK
31.12.2016
31.12.2015
(in thousands of euros)
CHARGE TO PROVISIONS AND IMPAIRMENT
-180
-315
Fixed income available-for-sale financial assets Other assets WRITE-BACKS OF PROVISIONS AND IMPAIRMENT Fixed income available-for-sale financial assets Other assets NET CHARGE TO IMPAIRMENT AND PROVISIONS
-180
-315
168
129
168
129
-12
-186
Recoveries on bad debts written off OTHER NET LOSSES COST OF RISK
-12
-186
2.6.9. INCOME TAX EXPENSE
2.6.9.1. Tax expense
31.12.2016
31.12.2015
(in thousands of euros)
Current tax expense
-46640
-44748
Deferred tax expense
8008
-5815
TAX EXPENSE FOR THE PERIOD
-38632
-50563
2.6.9.2. Reconciliation of theoretical tax rate and effective tax rate
31.12.2016 Base Tax rate
(in thousands of euros)
Tax
Income before tax, goodwill impairment, discontinued operations and share of profit in equity-accounted entities
157100 34.43% -54089
Impact of permanent differences
3632
Impact of different tax rates on foreign subsidiaries
3929
Impact of losses of the year, utilisation of tax loss carryforwards and temporary differences
-3835
Impact of reduced tax rate
11597
Impact of other items
135
EFFECTIVE TAX RATE AND TAX EXPENSE
24.59% -38632
31.12.2015 Base Tax rate
(in thousands of euros)
Tax
Income before tax, goodwill impairment, discontinued operations and share of profit in equity-accounted entities
164933 38.00% -62675
Impact of permanent differences
-4153
Impact of different tax rates on foreign subsidiaries
9590
Impact of losses of the year, utilisation of tax loss carryforwards and temporary differences
-12486
Impact of reduced tax rate
13155
Impact of other items
6006
EFFECTIVE TAX RATE AND TAX EXPENSE
30.66% -50563
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