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OTHER LIABILITIES
 3 Months Ended
Mar. 31, 2024
OTHER LIABILITIES  
OTHER LIABILITIES

NOTE 13– OTHER LIABILITIES

 

The Company’s other liabilities include but are not limited to liabilities to local tax authorities, fines and payroll taxes, which comprise the largest portion of the balance as of March 31, 2024. The Company’s Greek subsidiaries have $1,955,991 in settled tax liabilities payable to the tax authorities in installments and $1,058,856 in payroll tax related current liabilities. Moreover, we have recorded a provision relating to the unaudited tax years of our subsidiary SkyPharm SA, of $624,299 and a provision for staff leaving compensation, based on the corresponding actuarial reports, of $398,654. Additionally, we have received prepayments from our customers of $168,545, included in “Other current liabilities” as of March 31, 2024. We classify the liabilities payable within the twelve months following the balance sheet date in “Other current liabilities” and the remaining balance is included in “Other Liabilities”.