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36 Income tax liabilities

 
 31-Dec-0931-Dec-08Change
Income tax due9,27327,486-18,213
Excise and additional regional taxes25,74158,623-32,882
Withholding tax at source9,8698,4231,446
Equalisation Fund for electricity service10,44437110,073
Value added tax9,4929978,495
Substitute tax7,22017,041-9,821
Sewage fee5695654
Other tax liabilities7,6055,6671,938
Total80,214119,173-38,960

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

The "income tax due" as at 31 December 2009 shows a decrease compared to 31 December 2008 due to reduction of the Corporate Income Tax (IRES) due as a result of advance payments calculated using the historical method.

The decrease in "excise and additional regional taxes" compared to 31 December 2008 is attributable to a combination of decreases and increases for gas and electricity respectively.
With regard to gas, the advances paid in the year 2009 were in line with the sales revenues for the period, while the outstanding debt as at 31 December 2008 was paid.
With regard to electricity, however, there was an increase in excise and additional taxes as a result of the substantial increase in sales revenues generated by the acquisition of clients "under protection".

The "Equalization Fund for the electricity service" as at 31 December 2009 shows an increase compared to 31 December 2008 equal to Euro 10,073 thousand, due mainly to payables to the Equalization Fund for the AS component, established by resolution of the Italian Authority for Electricity and Natural Gas (AEEG) no. 138/08. This component is intended to cover the expenses for the compensation of costs incurred to supply electricity to economically disadvantaged households.

The "value added tax", equal to Euro 9,869 thousand, represents primarily the VAT liability of the Group, compared to the credit shown as at 31 December 2008.
Payables for "substitute tax" of Euro 7,220 thousand, reflects the option described in article 1, paragraph 48 of Law no. 244/2007, to which some of the companies in the group adhered from 31 December 2007. The payables for substitute tax are required to be fully paid within the next year. The decrease over the previous year is due to the amounts paid during the year under the instalment plan, as required by law.

The "other tax liabilities" item refers to the ecotax amount due for the last quarter of 2009, paid in 2010.

 

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