ANNUAL REPORT ‘12
NOTES TO THE FINANCIAL STATEMENTS
246
The conciliation between current taxation and effective taxation is as follows:
The corporate income tax rate (IRC) for ANAM, S.A. was changed, which went into effect on 01 January 2012.
The new rate of 25% reflects the elimination of the reduced tax rate previously applied in the Autonomous Region
of Madeira.
Current tax
Tax for the year
20,847,127.83
1,503,890.18
618,324.79
585.67
-
22,969,928.47
Estimated excess
418,424.60
(1,551.47)
563,109.47
(54,453.66)
(472,100.03)
453,428.91
Deferred tax
(12,642,506.63)
(2,258.18)
(6,028,594.08)
-
13,606,710.38
(5,066,648.51)
Tax expenditure
8,623,045.80
1,500,080.53
(4,847,159.82)
(53,867.99)
13,134,610.35
18,356,708.87
RAI
66,986,071.81
5,246,874.44
1,567,170.98
(212,058.81)
(210,097.69)
73,377,960.73
Rate of taxation
31.10%
28.62%
27.35%
26.50%
28.39%
-
20,833,577.45
1,501,655.46
428,621.26
(56,195.58)
(59,651.99)
22,648,006.61
Permanent differences
(13,190,929.75)
(47,738.85)
(45,850.38)
-
13,194,262.34
(90,256.65)
Adjustment rate
980,398.10
-
(17,341.00)
-
-
963,057.10
Use of tax losses
-
-
(1,314,152.70)
-
-
(1,314,152.70)
Others
-
46,163.92
(3,898,437.00)
2,327.59
-
(3,849,945.49)
Tax expenditure
8,623,045.80
1,500,080.53
(4,847,159.82)
(53,867.99)
13,134,610.35
18,356,708.87
2012
Portway, S.A.
ANAM, S.A.
NAER, S.A.
Adjustment
ANA GROUP
ANA, S.A.
Current tax
Tax for the year
30,862,419.37
469,875.84
14,302.75
1,250.44
-
31,347,848.40
Estimated excess
53,330.91
36,317.64
233,389.19
3,207.78
-
326,245.52
Deferred tax
(1,480,360.64)
(6,757.00)
(4,031,821.25)
(388,724.23)
-
(5,907,663.12)
Tax expenditure
29,435,389.64
499,436.48
(3,784,129.31)
(384,266.01)
-
25,766,430.80
RAI
55,960,224.24
3,064,600.17
1,575,002.46 (1,465,495.61)
44,596,473.79 103,730,805.05
Rate of taxation
28.89%
26.50%
25.00%
26.50%
28.89%
-
16,166,908.78
812,119.05
393,750.62
(388,356.34)
12,883,921.28
29,868,343.38
Permanent differences
13,279,931.00
(305,925.57)
(146,058.67)
4,458.22 (12,883,921.28)
(51,516.30)
Adjustment rate
-
-
-
-
-
-
Previous year tax
-
-
-
-
-
-
Others
(11,450.14)
(6,757.00)
(4,031,821.25)
(367.90)
-
(4,050,396.29)
Tax expenditure
29,435,389.64
499,436.48
(3,784,129.31)
(384,266.01)
-
25,766,430.80
2011
Portway, S.A.
ANAM, S.A.
NAER, S.A.
Adjustment
ANA GROUP
ANA, S.A.
