Tiscali 2009 Annual Report Download - page 108

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107
Year-end income taxes (note 10)
31 December 2009 31 December 2008
Restated
(EUR 000)
Current taxes 1,628 1,193
Deferred taxes 10,507 23,844
Net taxes for the year (12,135) (25,037)
Current taxes are mainly represented by IRAP (regional business tax) payable by Italian companies, which
do not have current tax burdens for IRES since they used previous tax losses.
The item Deferred taxes, amounting to EUR 10.5 million, represents the reversal of prepaid taxes at 31
December 2008 for the subsidiary Tiscali International BV.
Operating assets disposed of and/or assets held for sale (note 11)
The 2009 financial statements report the sale of Ti Net Group, which took place on 26 May 2009, and the
sale of UK operations on 3 July 2009, details of which are contained in the Report on Operations.
The table below shows the result from assets disposed of and/or held for sale:
31 December
2009
31 December 2008
Restated
(EUR 000)
Gross capital losses deriving from disposal of subsidiaries
and/or asset disposals (351,546)
-
Period result of subsidiaries disposed of and/or destined to be
disposed of (Tiscali UK Holding and Ti Net) (20,768) (143,354)
Result from assets disposed of and/or destined for disposal (372,313) (143,354)
Earnings per share from assets disposed of:
- Basic (0.53) (0.26)
- Diluted (0.53) (0.26)
The result of the disposal of subsidiaries refers to the capital loss deriving from the sale of UK subsidiaries,
amounting to EUR 353.1 million and the capital loss adjustment, already recorded at 31 December 2008,
deriving from the sale of Ti Net Group for EUR 1.6 million, as shown in the table below:
Consolidated Financial Statements and Explanatory Notes