Výroční zpráva\Annual Report - CETELEM ČR, as

Notes to 2006 Financial Statements
7.15. Deferred tax liability/receivable
Deferred tax 2005 2006
Title Book
value
Tax
value
Difference Tax
rate
Tax
receivable +
Tax
liability -
Book
value
Tax
value
Difference Tax
rate
(In thousand CZK)
Tax
receivable +
Tax
liability -
Tangible
and intangible
fixed assets
66,439 61,009 - 5,430 24% -1,303 109,360 99,502 -9,858 24% -2,366
Provision for
receivables
292,000 292,000 24% 70,080 145,200 145,200 24% 34,848
Total assets 68,777 32,482
Liability – holiday
not drawn down
2,880 24% 691 3,742 3,742 24% 898
Liabilities under labor
law relationships
1,680 24% 403 2,065 2,065 24% 495
Total liabilities
Deferred tax
1,094 1,394
liability/credit
as at Dec 31
69,871 33,876
Provisions for credit receivables represent a major part of the deferred tax in 2006. In line with Act No. 593/1992 Coll., on allowances,
as of 2006, these reserves are considered tax write-off expenses and their application in the following periods is subject
to all regulatory conditions.
8. EQUITY CAPITAL
The Company’s equity capital was CZK 878,278 thousand as at December 31, 2006. The Company’s equity capital increase as
at December 31, 2006 specified in the overview of the equity capital changes (see Attachment 2) was due to profit retained from
previous accounting periods as well as profit from the current accounting period.
The Company’s share capital is CZK 180,000,000 and is fully paid up. The Company issued 180,000 registered shares, each of
nominal value of CZK 1,000, in dematerialised form, whose transferability is restricted in the Company’s Articles of Association.
No change in the Company’s share capital occurred in the accounting period.
Upon the resolution of the General Meeting dated 9th June, 2006, the sole shareholder decided to use the 2006 profit to distribute
dividends amounting to CZK 412,000,000 and retain the remaining amount as retained profit. In 2005, dividends paid amounted
to CZK 653,400,000.
VÝROČNÍ ZPRÁVA\ANNUAL REPORT 2006 79