Tiscali 2013 Annual Report Download - page 92
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Annual financial report as at 31 December 2013
Date
File Name
Status
Page
-
Annual Report as at 31
December 2013
92
The maturity of the tax losses is shown in the following table.
(EUR 000)
Total as at
31
December
2013
Year of maturity
2014
2015
2016
After 2015
Indefinite
Total previous tax losses
741,044
0
26,321
8,463
706,260
The tax losses have an indefinite expiry, with the exception of the losses relating to Tiscali
International BV and the Dutch subsidiaries.
The Group does not record prepaid taxes, while the theoretical tax benefit as at 31 December 2013
calculated on the basis of an estimated average rate of 28.4% would amount to EUR 232.1 million.
The eventual process for the liquidation/merger of the foreign companies could reduce these
theoretical tax benefits. Despite the Group’s business plan having indicated profits for the next five
years, Tiscali S.p.A.’s Directors have not provided for prepaid taxes in the financial statements as at
31 December 2013.
Inventories (note 17)
At 31 December 2013, inventories totalled EUR 0.7 million and mainly relate to internet keys intended
to be sold.
Receivables from customers (note 18)
(EUR 000)
31 December 2013
31 December 2012
Receivables from customers
67,305
80,646
Write-down provision
(22,092)
(20,207)
Total
45,213
60,439
At 31 December 2013, receivables from customers totalled EUR 45.2 million, after write-downs of
EUR 22.1 million. These receivables accrued from the sale of internet services, billing of network
access services, inverse interconnection traffic, advertising revenues and business customer and
telephone services provided by the Group.
The analysis of receivables is carried out periodically, adopting a specific policy for calculating the
receivable write-down provision, with reference to experience and historical trends.
As the Group’s credit exposure is spread over a very large customer base, there is no particular credit
concentration risk.