A N N U A L R E P O R T A N D A C C O U N T S - CMVM
A N N U A L R E P O R T A N D A C C O U N T S - CMVM
A N N U A L R E P O R T A N D A C C O U N T S - CMVM
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Notes to the Financial Statements as at 31 st December 2008<br />
49 - STATE AND OTHER PUBLIC ENTITIES<br />
As at 31 st December 2008, the balances with these entities were broken down as follows:<br />
Debit balances<br />
Corporate Income Tax – IRC:<br />
Tax estimate 192<br />
Special payment on account 210<br />
402<br />
Value Added Tax 8,289<br />
Others 693<br />
9,384<br />
Credit balances<br />
Corporate Income Tax - IRC:<br />
Tax estimate 6,603<br />
Withholding taxes (985)<br />
5,618<br />
Value Added Tax 451<br />
Corporate Income Tax - Withholding tax 683<br />
Social Security Contribution 1,285<br />
Remaining taxes 9,481<br />
17,518<br />
The amounts stated in the items: "Estimated Tax", “Special payment on account" and "Withholding taxes", relate to the ascertainment of the Corporate Income<br />
Tax (IRC) within the scope of the Special Taxation Scheme for Groups of Companies, as mentioned Note 6.<br />
The individual amounts of the Company, for the items: "Estimated Tax" and "Withholding taxes" are EUR 8,923 thousand and EUR 654 thousand<br />
respectively.<br />
50 - ACCRUALS AND DEFERRALS<br />
As at 31 st December 2008, the balances in these items were broken down as follows:<br />
Profit accruals:<br />
Supplies and services rendered and not invoiced 8,730<br />
Interest receivable 5,963<br />
Others 7<br />
14,700<br />
Deferred costs:<br />
Incurred expenses to be charged 11,542<br />
Expenses incurred in issuing commercial paper 2,211<br />
Insurance paid in advance 573<br />
Expenses incurred in issuing bonds 426<br />
Revenues 185<br />
Others 3,314<br />
18,251<br />
Cost accruals:<br />
Staff costs 13,393<br />
Unpaid overdue financial charges 3,791<br />
Expenditures incurred and not invoiced by suppliers 3,552<br />
Revenues 1,329<br />
Litigation expenses 196<br />
Others 1,661<br />
23,922<br />
Deferred profits:<br />
Deferred profits in works ( Note 3e) ) 36,135<br />
Works invoiced but not executed 11,756<br />
Interest charged but not due 183<br />
Others 410<br />
48,484<br />
The deferred profits in works correspond to values not recognised as results and which are intended to cover the costs to be incurred during the waiting period<br />
of the works, as mentioned in Note 3e). The works invoiced but not executed result from the application of the percentage-of-completion method, as mentioned<br />
in Note 3e).<br />
167