Tiscali 2003 Annual Report Download - page 85

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8787
The fall in “corporate income tax and other taxes” relates to adjustments made during the year. “VAT payables to the Treasury”
totalled EUR 17.8 million, an increase of EUR 7.4 million owing to the rise in revenues.
Payables to social security agencies
“Payables to social security agencies” were unchanged on the previous year, and include pension contributions made by the
Company and employees, and voluntary and compulsory social security and industrial accident insurance contributions.
Other payables
Other payables break down as follows:
“Other payables” refer to payables to employees, directors and statutory auditors for emoluments and other payables that cannot
be classified under any other item.
“Payables to directors” include emoluments.
The “other payables” item includes payables of EUR 2.5 million in respect of the acquisition of EU.net AG, Tiscali Internet Ltd
and Home.se AB during the year, which are to be paid for in newly-issued shares in Tiscali S.p.A.. The necessary shares were
issued in early 2004. This item also includes payables relating to: the acquisition of BabyXL (ADSL network) in 2002 (EUR 1.3
million), an agreement with BT Ignite over the acquisition of an access network (EUR 3.7 million) and refunds of modem and
installation fees paid to broadband customers (EUR 2.1 million). Payables of EUR 2.4 million relating to Tiscali International BV
due to former shareholder Nacamar Ltd, and of EUR 5.6 million relating to the acquisition of a division of npower during the year
are also included under this item.
E) Accrued liabilities and deferred income
Accrued liabilities and deferred income break down as follows.
OTHER PAYABLES 31.12.2003 31.12.2002 CHANGE
Payables to directors (emoluments) 517 585 (68)
Payables to employees (accrued holiday pay) 5,326 1,752 3,574
Other payables 30,305 9,805 20,500
Total 36,148 12,142 24,006
ACCRUED LIABILITIES AND DEFERRED INCOME 31.12.2003 31.12.2002 CHANGE
Accrued liabilities
Rental -1,311 (1,311)
Bank interest 9,566 78 9,488
Interest on loans ---
Accrued payments (employees) 2,828 3,101 (273)
Accrued holiday bonuses 3,234 2,906 328
Other accrued expenses 61,984 59,288 2,696
Total 77,612 66,684 10,928
Deferred income
Pre-paid Internet services 63,778 36,244 27,354
Other deferred income 11,880 30,764 (18,884)
Total 75,658 67,008 8,650
Total accrued liabilities and deferred income 153,270 133,692 19,578