Note 5 Prepaid taxes and tax liabilities 31.12.2015 EURt
Prepayment
31.12.2014
Tax liability
Prepayment
01.01.2014
Tax liability
Prepayment
Tax liability
Value added tax
25
17
8
Personal income tax
30
6
5
Income tax on fringe benefits
0
1
0
55
11
9
Mandatory funded pension
4
1
1
Unemployment insurance premiums
4
1
1
Social tax
Prepayment account balance
2
5
0
Deferred income tax
45
0
0
Total
47
118
5
37
0
24
Tax authorities have the right to examine the company’s tax accounting within a period of 3+2 years (+2 in case of suspicion) after the tax return is due to be filed and upon detecting errors, assess additional taxes, interest and fines. The group’s management estimates that there are not any circumstances which might lead the tax authorities to assess additional significant taxes on the company. Deferred tax assets arise in Latvia and it is probable that it can be utilised.
Corporate income tax rates Estonia Latvia
2015
2014
20 / 80
20 / 80
15%
15%
See also Note 1 - Accounting Policies.
NOTES
44
Inbank annual report 2015