Tiscali 1999 Annual Report Download - page 36

Download and view the complete annual report

Please find page 36 of the 1999 Tiscali annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 45

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45

TAXES AND DUTIES PAYABLE
Description (Euro) 31/12/99 31/12/98 Change % change
Registration duty payable 40,671 40,671 - -
Advance withholding taxes payable 116,525 12,488 104,077 836.10%
Total 157,196 53,119 104,077 195.93%
Taxes and duties payable to the Treasury consist mainly of advance withholdings made and remitted in
January 2000.
ANALYSIS OF OTHER PAYABLES
Description 31/12/99 31/12/98 Change % change
(Euro)
Personnel wages and salaries payable 284,879 - 284,879 -
Other 3,560,100 82,630 3,477,470 4208.46%
Total 3,844,979 82,630 3,762,349 4553.22%
The line item “Other Payables” includes EURO 3,4 million payable by Tiscali to the partners of the
company Nets SA in accordance with the contract, stipulated on 29 December 1999, which established the
acquisition of 100% of shareholding capital against payment of a total sum of EURO 7,4 million. Pursuant
to contract terms, Tiscali paid EURO 4 million in cash at the time of signing the contract. For the
remaining sum, EURO 3,4 million, Tiscali will issue and deliver new shares. Said shares will be issued in
conjunction with the increase in the share capital with exclusion of option rights in accordance with article
2441 of the Italian Civil Code. Said operation is on the agenda of the extraordinary shareholders’ meeting
called for 15 March 2000.
&#/&*.,0,.,,&6**&%&&*,65&
The composition of accrued liabilities and deferred income is as follows:
31/12/99 31/12/98 Change % Change
Accrued Liabilities (Euro)
Accrued liabilities for holiday bonus 111,328 18,774 92,554 493.00%
Holidays and leave accrued but not taken 144,115 17,729 126,386 712.87%
Other 8,358 14,756 (6,397) -43.36%
Total accrued liabilities 263,801 51,259 212,542 414.65%
Deferred income::
Prepaid traffic 4,596,690 743,505 3,853,185 518.25%
4,596,690 743,505 3,853,185 518.25%
Total deferred income 4,860,491 794,764 4,065,727 511.56%
Deferred income consists of the portion of telephone traffic which has been paid but not yet used.