Tiscali 2009 Annual Report Download - page 118
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117
Guarantee deposits amounting to EUR 6.8 million, include EUR 6.3 million in deposits reported by the
Italian subsidiary relating to the sale and lease back transaction on the SA Illetta property, EUR 0.2 million
in deposits relating to the German subsidiaries.
Other receivables mainly include other financial assets represented by the amount owed to Tiscali Group by
the buyer of Ti Net Group (Talia) for the deferred amount of the price equal to EUR 6.4 million.
The item Equity investments in other companies is mainly for the shareholdings held by Tiscali Italia S.p.A.
in Janna S.c.p.a., a consortium company whose company object is the operation of an underwater fibre
optic cable between Sardinia and the Italian mainland and between Sardinia and Sicily, which Tiscali Italia
S.p.A. uses through their partner.
Deferred tax assets (note 19)
At 31 December 2009, no deferred tax assets due to prepaid tax were recorded. The balance as at 31
December 2008, amounting to EUR 10.5 million, was for prepaid taxes reported by the subsidiary Tiscali
International BV, and entered in the income statement in 2009.
31 December 2009 31 December 2008
(EUR 000)
Deferred tax assets - 10,507
Total - 10,507
At the date of the financial statements, the Group reported tax losses that can be carried forward to
subsequent years for a total of EUR 775 million and deductible timing differences for EUR 205 million.
The timing differences are all attributable to the Italian companies.
Tax losses refer to:
• the parent company and Italian subsidiaries for EUR 193.3 million;
• Tiscali International BV and the Dutch subsidiary for EUR 174 million;
• German subsidiaries for EUR 251 million;
• Tiscali UK Holdings for EUR 156.6 million.
The term of tax losses is shown in the table below:
Total at
31 December 2009
Year of expiry
2010 2011 2012
After
2012 Indefinite
(EUR mln)
Total previous tax losses 775 9 233 94 21 418
Indefinite tax losses refer to the German companies (EUR 251 million), Tiscali UK Holdings (EUR 156.6
million) and Tiscali S.p.A. (EUR 10.6 million).
Consolidated Financial Statements and Explanatory Notes