Tax Transparency Report

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Description Target Price (€) Recommendation Analyst
Taxes borne 34.00
Taxes collected 66.00
Medium Target Price € 50.00

Item

Amount (M/€)

Taxes borne

4,778

Taxes collected

9,202

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Description Target Price (€) Recommendation Analyst
Taxes on products and services 21.00
Environmental taxes 14.00
Profit taxes 40.00
Employment taxes 17.00
Property taxes 8.00
Medium Target Price € 20.00
Taxes borne UM

Total 2022

Profit taxes
€/mil

 1,927.6

Property taxes
€/mil

355.7

Employment taxes
€/mil

 808.8

Taxes on products and services
€/mil

1,012.7

Environmental taxes
€/mil

673.3

Total

4,778.0

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Description Target Price (€) Recommendation Analyst
Taxes on products and services 66.00
Profit taxes 2.00
Environmental taxes 20.00
Employment taxes 12.00
Medium Target Price € 25.00
Taxes collected UM

Total 2022

Profit taxes
€/mil

172.9

Property taxes
€/mil

1.1

Employment taxes
€/mil

1,102.0

Taxes on products and services
€/mil

6,074.2

Environmental taxes
€/mil

1,851.6

Total

9,201.9

Total Tax Contribution Rate
64.7%
The Total Tax Contribution Rate (TTCR) is equal to 64.7% in 2022. TTCR reveals the share of taxes borne on total profit before taxes borne.
Cash Tax Rate
40.8%
The Cash Tax Rate represents the incidence of the tax burden, expressed in terms of taxes paid on the statutory result and is determined as the ratio between the corporate income taxes paid and the profit before income tax.
Current Income Tax rate
68.1%
The Current Income Tax Rate is determined as the ratio between corporate income taxes accrued on profit/loss (Current taxes) and the profit before income tax.
Effective Tax Rate (ETR)
40.3%
The ETR represents the incidence of the overall tax burden (accounted for) on the statutory result and is determined as the ratio between the total income taxes recorded in the financial statements and the consolidated profit before income tax.

Glossary

Taxes borne

Taxes borne are direct costs to Enel, which are the taxes that Enel has paid to the tax authorities of various jurisdictions, i.e., income taxes, social contributions, property taxes, etc.

Taxes collected

Taxes collected are the taxes that have been paid as a result of economic activities of Enel, they are not part of Enel’s own costs. Here the company is collecting taxes from others, on behalf of government, i.e., income taxes collected from employees under a payroll system.

Total Tax Contribution (TTC)

Sum of taxes borne and collected, measures the Group's effective tax contribution in the jurisdictions in which it operates.

Total Tax Contribution Rate

The Total Tax Contribution Rate is an indicator of the cost represented by taxes borne in relation to profit obtained. The Total Tax Contribution Rate is calculated as the percentage of taxes borne with respect to profit before such taxes, based on Enel’s activities in the countries which are covered by the Tax Transparency Report.

Cash Tax rate

The Cash Tax Rate represents the incidence of the tax burden, expressed in terms of taxes paid on the statutory result and is determined as the ratio between the corporate income taxes paid and the profit before income tax.

Current Income Tax rate

The Current Income Tax Rate represents the incidence of the current (accounted for) tax burden on the statutory result and is determined as the ratio between corporate income taxes accrued on profit/loss Current taxes and the profit before income tax.

Effective Tax Rate (ETR)

Represents the incidence of the overall tax burden (accounted for) on the statutory result and is determined as the ratio between corporate income taxes accrued on profit/loss and the Profit before Tax. Differently from the Current Income Tax Rate, in addition to current taxes, taxes also include (i) provisions for tax liabilities not yet certain in their amount or existence, (ii) tax adjustments related to previous years, and (iii) deferred tax assets and liabilities.