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ENAV Group Consolidated Financial Statements

Ciampino and Treviso. The current portion amounts to € 1,177 thousand; iii) other
grants on investments for € 7,232 thousand (€ 7,337 thousand at 31 December
2014) referring mainly to European funding obtained within the scope of the TEN-T
predominantly for the “ANSPs Interim Deployment Programme Implementation”
project for new technology and procedures associated with air transport, where
ENAV plays a coordinating role. The decrease for the period relates to the portion
reversed to the Income Statement regarding the amortisations of the investments
that the grant referred to for € 105 thousand and the portion classified under other
current liabilities for € 128 thousand.

23. Tax and social security payables

Tax and social payables amount to € 46,702 thousand, and the composition thereof
is shown in the table below.

Tax payables 31.12.2015 31.12.2014 Change
Social security payables 20,917 8.,322 12,595
Total 25,785 24,610
46,702 32,932 1,175
13,770

Tax payable shows an increase of € 12,595 thousand mainly due to the IRES payable
of € 12,026 thousand (€ 366 thousand at 31 December 2014) as the net amount
due resulting from the taxes for the period for € 23,428 thousand less the credit
balance from 2014 and the instalments paid in 2015 for a total of € 11,336 thousand
and the withholding taxes paid for € 66 thousand. The remaining portion refers to
withholding tax on employees and was paid in January 2016.

The social security payables include both the employee portion social security costs

due for employees for the month of December and paid the following month, and

the employer portion of the contributions on personnel costs recorded for the period
for a total of € 14,066 thousand.

ENAV - Annual financial report 2015 127