VÝROČNÍ ZPRÁVA ANNUAL REPORT - Philip Morris

ANNUAL REPORT 2008 | FINANCIAL RESULTS
11. TRADE AND OTHER LIABILITIES
(in CZK million) December 31, 2008 December 31, 2007
Trade and other financial liabilities
Third parties 98 357
Other related parties 162 282
Accrued expenses 192 211
Dividends payable 11 12
Total 463 862
Non-financial liabilities
Amounts due to employees 93 73
Social security and health insurance 30 32
Advances received 2 5
Other 3 -
Total 128 110
Trade payables to related parties are disclosed in Note 27.
12. OTHER TAX LIABILITIES
(in CZK million) December 31, 2008 December 31, 2007
VAT 497 1 216
Excise tax 857 4 057
Other taxes 9 14
Total 1 363 5 287
13. DEFERRED INCOME TAX
Deferred income tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets against current tax liabilities and when
the deferred income taxes relate to the same fiscal authority.
The offset amounts are as follows:
(in CZK million) December 31, 2008 December 31, 2007
Deferred tax assets 15 21
Deferred tax liabilities (133) (144)
Deferred tax liabilities (118) (123)
Deferred tax assets
– Deferred tax asset to be recovered within 12 months 13 18
– Deferred tax asset to be recovered after more than 12 months 2 3
15 21
Deferred tax liabilities
– Deferred tax liabilities to be recovered within 12 months (21) (18)
– Deferred tax liabilities to be recovered after more than 12 months (112) (126)
(133) (144)
The movement in the deferred income tax is as follows:
(in CZK million) 2008 2007
January 1 (123) (174)
Income statement credit / (charge) 5 51
December 31 (118) (123)
The movement in deferred tax assets and liabilities during the year, without taking into consideration the offsetting of balances within the same tax jurisdiction,
is as follows:
Deferred tax liabilities (in CZK million)
Accelerated tax depreciation
As at January 1, 2007 (192)
Credit to the income statement 48
As at December 31, 2007 (144)
Credit to the income statement 11
As at December 31, 2008 (133)
83