012 - ČEZ Distribuce

ČEZ Distribuce, a. s. Notes to the Financial Statements as of December 31, 2012
13. Other Liabilities
Accruals as at 31 December 2012 and 2011 include interest on the loan provided by ČEZ, a. s., and are charged to income for
the year in which they were incurred.
Deferred income includes connection fees and is recognized into income for the year in which it was earned.
Movements in deferred income accounts in 2012 and 2011 (in CZK thousands)
Balance as at 1/1/2011 8,269,538
Additions in 2011 562,594
Released to revenues in 2011 (670,739)
Balance as at 31/12/2011 8,161,393
Additions in 2012 731,389
Released to revenues in 2012 (702,350)
Balance as at 31/12/2012 8,190,432
Deferred income includes in particular connection fees within the meaning of Act No. 458/2000 Coll. (the Energy Act) and
Decree No. 51/2006 Coll. of Energy Regulatory Office (Energetický regulační úřad). These fees are credited to income by the
Company in compliance with its internal regulations in the amount of 1/20 of collected fees per annum.
14. Income Taxes
2012 2011
(in CZK thousands) (in CZK thousands)
Profit before taxes 5,272,756 6,959,299
Difference between book and tax depreciation 317,109 541,177
Difference between net book value of fixed assets for accounting and tax purposes 86,624 55,603
Non-deductible expenses
Creation/release of provisions (12,210) 10,580
Creation/release of allowances 47,465 27,377
Expenses relating to previous tax period (42,523) 59,170
Other 34,522 44,997
Taxable income 5,703,743 7,698,203
Current income tax rate 19% 19%
Tax 1,083,711 1,462,658
Tax allowance (211) (214)
Provision for income tax 1,083,500 1,462,444
Adjustment of the tax paid in previous years 3,685 4,950
Current tax expense 1,087,185 1,467,394
067
The calculation of the 2012 and 2011 corporate income tax liability is preliminary. The Company submits regular tax return prior
to 30 June of the following accounting period.
The Company quantified deferred taxes as follows (in CZK thousands):
Deferred tax items 31/12/2012 31/12/2011
Deferred tax Deferred tax Deferred tax Deferred tax
asset liability asset liability
Difference between net book value of fixed assets
for accounting and tax purposes – (11,742,803) – (11,855,979)
Other temporary differences:
Allowance against receivables 33,128 – 24,116 –
Provisions 43,463 – 45,783 –
Other 17,097 (117) 16,699 –
Total 93,688 ( 11,742,920) 86,598 (11,855,979)
Net (11,649,232) (11,769,381)