What are the fiscal and social debts?

Tax and social security liabilities are one of the liability categories in the balance sheet.

They include debts owed by the company to the public bodies and its employees.

Tax and social security debts include the following items in particular:

  • VAT or sales taxes pending settlement
  • Salaries awaiting payment
  • Social security contributions (employer and employee contributions awaiting settlement)
  • Corporation tax

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