2006 - Interparfums

3.12
Deferred tax
Deferred taxes arise from timing differences between financial accounting and tax accounting. Deferred taxes from consolidation
adjustments and loss carryforwards are recovered as follows:
In € thousands 12/31/05 Changes Changes 12/31/06
through through
reserves income
Deferred tax liabilities
Timing differences between financial and tax accounting 680 - (313) 367
Acquisition cost 145 - 172 317
Market value on securities 32 35 - 67
Discounting of Nickel debt 39 (39) -
Stocks options - 199 (199) -
Gains (losses) on treasury shares - 3 (3) -
Loan swap - - 8 8
Remeasurement gains (losses) 734 - - 734
Total deferred tax liabilities 1,630 237 (374) 1,493
Deferred tax assets
Timing differences between financial and tax accounting 530 - 103 633
Loan swap 19 - (19) -
Recognition of loss carryforwards 1,491 - (218) 1,273
Other - - 14 14
Total deferred tax assets before depreciation 2,040 - (120) 1,920
Depreciation of deferred tax - - (633) (633)
Net deferred tax 2,040 - (753) 1,287
3.13
Other short-term liabilities
In € thousands 12/31/05 12/31/06
Accrued credit notes 2,266 6,827
Current account liabilities 6,362 8,965
Minimum annual tax charge and corporate income tax advances 1,051 947
Tax and employee-related liabilities 4,451 5,171
Van Cleef & Arpels debt (1) - 18,000
Other liabilities 2,555 5,169
Total 16,685 45,079
(1) cf. note 3.1
75