Catom Annual Report 2022 EN

The movements in provisions are as follows: €

Deferred tax liability

Other

Total

Balance as at 1 January 2022

1,005,279

117,222

1,122,501

Addition

3,692,775

28,719

3,721,494

Provision for acquisition

1,565,349

677,081

2,242,430

Withdrawal

0

-15,516

-15,516

Release

-110,476

0

-110,476

Balance as at 31 December 2022

6,152,927

807,506

6,960,433

8.1. Deferred tax liability A provision for deferred tax liabilities has been recognised for the tax effect of temporary differences between the book value of assets and liabilities for financial reporting purposes and tax purposes. The provision is based on the statutory corporation tax rate of 25.8%. The applied discount rate is 4% for discounting. The current portion of the provision for deferred tax liabilities amounts to € 372,424.

8.2. Other provisions €

31-12-2022 31-12-2021

Major ship maintenance

702,062

0

Site restoration

62,956

62,956

Long-service awards

42,488

54,266

Total other provisions

807,506

117,222

77