content_image/47577.jpg content_image/47578.jpg
## 16. Tax Provisions 

<img src='content_image/47577.jpg'>

Tax provisions mainly include the income taxes due but not yet paid for 2004 as well as expected tax payments for previous years; they do not include deferred taxes. In this respect, 

## 17. Other Provisions 

attention is drawn to Paragraph 7 of these Notes. The provision will probably lead to an outflow of cash in the next financial year. 

<img src='content_image/47578.jpg'>

The warranty provision is determined on the basis of the historical value of sales generated during the past six months. It is expected that most of these expenses will fall due within the first six months of the next financial year. 

Purchase risks primarily relate to materials risks and to the forms needed for footwear manufacture. The item also includes anticipated losses associated with purchase transactions. The provision will probably lead to payment in the following year. 

## 18. Minority Interests 

The compensating item for minority interests concerns the associated companies in PUMA Chile, PUMA Portugal and PUMA Sports Distributors (South Africa). The stake held in the minority 

Other provisions are primarily recorded to account for risks that may arise from litigation, anticipated losses and other risks. Depending on the procedure applied in each case, it is expected that the amount will largely be utilised within the next two years. 

interests is 49% for PUMA Chile and PUMA Portugal respectively, and 29% for PUMA Sports Distributors. 

Foreword | Mission | Management Report | Share | Marketing | Consolidated Financial Statements - IFRS - | Report of Supervisory Board | Board of Management 

