| For the period | |||
|---|---|---|---|
| Income tax | Note | from 1 January 2014 to 31 December 2014 | from 1 January 2013 to 31 December 2013 |
| Current income tax | 878 | 1 161 | |
| Deferred income tax | 22 | (221) | 42 |
| Adjustments to income tax from prior periods | (10) | (1) | |
| Total | 647 | 1 202 | |
Identification of differences between profit before tax for the Group and the income tax which would be achieved were the tax rate of the Parent Entity to be applied.
| For the period | ||
|---|---|---|
| from 1 January 2014 to 31 December 2014 | from 1 January 2013 to 31 December 2013 | |
| Profit before tax | 3 098 | 4 240 |
| Tax calculated using the Parent Entity’s rate (2014: 19%, 2013: 19%) | 589 | 806 |
| Effect of applying other tax rates abroad: | (51) | 1 |
| Canada (2014: 26%, 2013: 25.75%) | 15 | (5) |
| The USA (2014: 35%, 2013: 35%) | (26) | 36 |
| Chile (2014: 21%, 2013: 20%) | 3 | (3) |
| Barbados (2014: 0.25-2.5%, 2013: 0.5-2.5%) | (58) | - |
| Other countries | 15 | (27) |
| Tax effect of non-taxable income | (36) | (95) |
| Tax effect of expenses not deductible for tax purposes * | 407 | 424 |
| Utilisation of previously-unrecognised tax losses | (52) | ( 9) |
| Tax losses on which deferred tax assets were not recognised | 5 | 43 |
| Deductible temporary differences on which deferred tax assets were not recognised | 85 | 33 |
| Adjustments to income tax from prior periods | (10) | (1) |
| Re-measurement of deferred tax liabilities due to changes in tax system in Chile | (290) | - |
| Income tax expense the average income tax rate applied was 20.9% (2013: 28.3%) |
647 | 1 202 |
* tax effect of expenses not deductible for tax purposes in 2014 and 2013 mainly related to the minerals extraction tax. Details in note 28