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36 Income tax liabilities

 
 31-Dec-201031-Dec-2009Changes
Excise and additional regional taxes 44,013 25,741 18,272
Substitute tax25,4347,22018,214
Income tax due13,6829,2734,409
Value added tax11,0759,4921,583
Withholding tax at source10,3409,869471
Sewage fee5705691
Other tax liabilities19,38818,0491,339
Total 124,502 80,213 44,289

The most significant changes that have occurred since last year are noted below:

“Excise and additional regional taxes” payables increased considerably compared to 31 December 2009. For an explanation please see note 27 of the assets “other current assets”, and particularly the mechanism that governs the financial relations with the Tax Authority.

For “Substitute tax”, please refer to note 15 on income taxes. The payable as at 31 December 2009 related mainly to the option set out in art. 1, paragraph 48 of Law no. 244/2007 which Hera Spa has already adhered to from 31 December 2007, a payable fully settled in 2010.

As regards “Income tax due”, the increase compared to 31 December 2009 is attributable to the setting aside of taxes accrued on the income generated during the period.


 

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