Chrysler 2008 Annual Report Download - page 310

26. Other payables
At 31 December 2008, other payables amounted to €784,481 thousand, an increase of €203,938 thousand over 31 December 2007.
The balance may be analysed as follows:
At At
(€ thousands) 31 December 2008 31 December 2007 Change
Advances 10,609 12,625 (2,016)
Other payables:
- Intercompany payables:
- Consolidated VAT 229,084 195,886 33,198
- Consolidated IRES tax 316,607 345,460 (28,853)
- Other intercompany payables 368 6 362
- Total Intercompany payables 546,059 541,352 4,707
- Social security payables 1,831 4,425 (2,594)
- Current amounts payable to employees, directors and statutory auditors 5,343 14,654 (9,311)
- Payables to shareholders of Toro Assicurazioni S.p.A., Magneti Marelli S.p.A.
and Comau S.p.A. for public offerings 860 866 (6)
- Dividends payable 273 187 86
- Other 15,837 731 15,106
Total Other payables 570,203 562,215 7,988
Tax payables:
- VAT payable 182,704 1,976 180,728
- Taxes withheld on payments to employees and independent contractors 2,068 3,027 (959)
- Tax payable 18,330 – 18,330
- Other 432 469 (37)
Total Tax payables 203,534 5,472 198,062
Accrued expenses and deferred income 135 231 (96)
Total Other payables 784,481 580,543 203,938
Advances
This item consists of the difference between inventories and progress payments and contractual advances received from the
customer
Treno Alta Velocità – T.A.V. S.p.A. for contract work in progress and is made up as follows:
At At
(€ thousands) 31 December 2008 31 December 2007 Change
Contract work in progress 401,508 381,649 19,859
Less: Progress payments for work completed 409,864 389,956 19,908
Gross amount due to the customer 8,356 8,307 49
Contractual advances 2,253 4,318 (2,065)
Total Advances 10,609 12,625 (2,016)
The item relates to contracts for the high speed railway project signed by Fiat S.p.A. with Treno Alta Velocità - T.A.V. S.p.A. (which
was in turn engaged by F.S. S.p.A.), for the operational engineering and construction of two lines (Bologna-Florence and Turin-
Milan, the latter divided into two sub-lines: Turin-Novara and Novara-Milan). At 31 December 2008, the contractual amounts
(including additional work and monetary adjustments) total €4,955 million for the Bologna-Florence line, €4,666 million for the
Turin-Novara sub-line and €2,352 million for the Novara-Milan sub-line.
Fiat S.p.A. Statutory Financial Statements at 31 December 2008 309