ENEL GREEN POWER: EXPECTED IMPACT OF ROBIN HOOD TAX

Published on Wednesday, 14 September 2011

Rome, September 14th, 2011 - With regard to the so-called “second package” of budget adjustment measures approved with Decree Law 138 of August 13th, 2011, ratified today by the Italian Parliament, Enel Green Power announces that the amendment of the rules governing the so-called “Robin Hood Tax”, which increases the rate of the additional IRES levy for three years to 10.5% from its current level of 6.5%, as well as the extension of the additional levy to the entire renewable energy sector, will result into a higher charge for the Enel Green Power Group in terms of current tax liability estimated at about 25 million euros per year in the period from 2011 to 2013 and about 2 million euros per year in each subsequent years.

Economic | September, 14 2011

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