(€ million)

2023

2022

2021

Profit (loss) before taxation

10,228

22,049

10,685

Tax rate (IRES) (%)

24.0

Statutory corporation tax charge (credit) on profit or loss

2,455

5,292

2,564

Increase (decrease) resulting from:

- higher tax charges related to subsidiaries outside Italy

3,036

3,388

2,301

- extraordinary contribution effect for companies in energy sector

1,971

- impact pursuant to foreign tax effects of italian entities

66

108

- effect of the valuation of the investments under the equity method

(26

)

50

180

- effect due to the tax regime provided for intercompany dividends

7

11

54

- Italian regional income tax (IRAP)

91

(18

)

140

- tax effects related to previous years

48

(19

)

52

- effect of reversals (impairments) of deferred tax assets

(96

)

(241

)

- impact pursuant to (reversal) impairment of deferred tax assets

(221

)

(2,087

)

(666

)

- other adjustments

74

(325

)

112

2,913

2,796

2,281

Effective tax charge

5,368

8,088

4,845