Catom Annual Report 2023 EN

The movements in provisions are as follows: €

Deferred tax liability

Other

Total

Balance as at 1 January 2023

6,152,927

807,506

6,960,433

Addition

2,143,901

13,591

2,157,492

Withdrawal

0

-14,932

-14,932

Release

-1,275,946

-715,653

-1,991,599

Balance as at 31 December 2023

7,020,882

90,513

7,111,394

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 4.33% for discounting. The current portion of the provision for deferred tax liabilities amounts to € 530,056.

8.2. Other provisions

€

31-12-2023 31-12-2022

Major ship maintenance

0

702,062

Site restoration

60,236

62,956

Long-service awards

30,277

42,488

Total other provisions

90,513

807,506

81