LensCrafters 2015 Annual Report Download - page 150
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Notes to the consolidated financial statement as of December 31, 2015 Page 56 di 68
PROVISION FOR INCOME TAXES
The income tax provision is as follows:
(in thousands of Euro) As of December 31,
INCOME TAX PROVISION 2015
2014
Current taxes (484,652)
(424,966)
Deferred taxes 13,610
10,900
Total income tax provision (471,042)
(414,066)
The increase in current taxes was primarily due to the increase in earnings before taxes.
The reconciliation between the Italian statutory tax rate and the effective rate is shown below:
As of December 31,
(in thousands of Euro) 2015
2014
Italian statutory tax rate 31.4%
31.4%
Aggregate effect of different tax rates in foreign jurisdictions 4.1%
4.8%
Accrual for tax audit of Luxottica S.r.l. of Euro 30.3 million, Euro 66.7 million and Euro 10.0 million,
respectively (fiscal year 2007 and subsequent periods) —
2.9%
Adjustment for the reorganization of Oakley and other minor projects 0.6%
—
Aggregate other effects 0.8%
—
Effective rate 36.9%
39.1%
For an analysis of the main changes in 2015 as compared to 2014 please refer paragraph 3 “Financial Results” of the
“Management Report.”