41. Other Liabilities

The decline in tax liabilities is mainly due to the reduction in VAT advance payment liabilities and payroll liabilities at domestic companies. The increase in tax liabilities at foreign companies had an offsetting effect.

The public subsidies relate to preliminary funding in connection with the promotion of intermodal transport. This will be deducted from the acquisition cost capitalised for the subsidised investments following an audit to confirm that all the requirements have been met.

There is sufficient certainty that all the conditions have been or will be fulfilled for the public subsidies to promote intermodal transport totalling € 36,987 thousand which were paid to HHLA in the period between 2001 and 2014. These subsidies have therefore already been deducted from the cost of purchasing the subsidised investments. The conditions for the subsidies include obligations to operate the subsidised equipment for a retention period of five to 20 years, observe certain operating criteria and provide the subsidising body with evidence for the use of the funds. The HHLA Group received € 967 thousand in public subsidies in the previous year.

All other liabilities have a remaining term of up to one year.