41. Other Liabilities

The liabilities towards employees include liabilities arising from holiday entitlements (reported within financial liabilities in the previous year).

The decline in tax liabilities is mainly due to the reduction in VAT advance payment liabilities at domestic companies and tax liabilities at foreign companies.

The public subsidies in the previous year relate to preliminary funding in connection with the promotion of intermodal transport. These are 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 € 40,815 thousand which were paid to HHLA in the period between 2001 and 2016. 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 € 2,774 thousand in public subsidies in the reporting year.

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