Annual Report - EDP

notes to the consolidated EDP - and Energias company de Portugal, financial S.A. statementsfor the years ended 31 december 2012 and 2011Notes to the Consolidated and Company Financial Statementsfor the years ended 31 December 2012 and 201141. CURRENT TAX LIABILITIESCurrent tax liabilities are analysed as follows:GroupCompanyThousands of Euros Dec 2012 Dec 2011 Dec 2012 Dec 2011State and other public entities:Income tax 103,633 167,316 9,930 1,158Withholding tax 64,763 65,999 256 213Value added tax (VAT) 94,461 97,835 2,229 307Turnover tax (Brazil) 52,956 59,596 - -Social tax (Brazil) 41,984 36,952 - -Other taxes 109,941 119,108 50 44467,738 546,806 12,465 1,722As at 31 December 2012, for the Group, the caption Other taxes includes essentially the foreign taxes regarding HC Energia Group of 44,512 thousands of Euros,Naturgas Group of 29,667 thousands of Euros (31 December 2011: HC Energia Group of 53,539 thousands of Euros and Naturgás Group of 34,656 thousands of Euros)and EDP Brasil Group of 12,710 thousands of Euros (31 December 2011: 13,437 thousands of Euros).42. ASSETS AND LIABILITIES CLASSIFIED AS HELD FOR SALEThe criteria for classifying assets and liabilities as held for sale and discontinued operations, as well as their presentation in the EDP Group’s consolidated financialstatements, are presented under accounting policies - note 2 u).This caption is analysed as follows:GroupThousands of Euros Dec 2012 Dec 2011Assets classified as held for saleAssets of the business of gas transmission - Naturgas 212,850 201,924Assets of the business of cogeneration 29,001 -241,851 201,924Liabilities classified as held for saleLiabilities of the business of gas transmission - Naturgas -23,628 -21,329Liabilities of the business of cogeneration -15,758 --39,386 -21,329202,465 180,595As a result of the negociations for the sale of the gas transmission network of Naturgás Energia, the assets and liabilities associated with this business werereclassified to assets and liabilities held for sale. The assets of the business of gas transmission relate mostly to tangible fixed assets in operation and in progress. Thisoperation will be concluded during the first quarter of 2013.On 21 January 2013, EDP Produção sold the cogeneration assets, particularly representative 82% of Soporgen, S.A to the other shareholder, Soporcel, S.A., for theamount of 5,060 thousands of Euros, as a result of the call option exercised by Soporcel as established in the shareholders' agreement. Consequently, as at 31December 2012, the assets and liabilities associated with Soporgen are presented in the captions of assets and liabilities classified as held for sale. Simultaneouslywith this divestment, EDP Produção received full reimbursement of the shareholders loans granted to Soporgen, including accrued interest, in the amount of 3,281thousands of Euros.These reclassification were made only for presentation purposes, without changing the measurement criteria of these assets and liabilities, as it is expected that thefair value less costs to sell will be higher than the book value of their assets and liabilities, in accordance with IFRS 5.236A World Full Of Energy