REC Silicon Annual Report 2019

96 Notes to the financial statements, REC Silicon ASA REC Silicon Annual Report 2019 RELATED PARTIES Related parties’ transactions for the Company are primarily interest income (see the income statement and note K) and loans to its subsidiaries (see note D andM). These loans are included in non-current receivables from subsidiaries (see the balance sheet). In 2019 and 2018, the Company contributed equity to REC Silicon AS (see note C). GroupManagement and Board of Directors’ compensation, ownership of shares and options, loan agreements and guarantees are shown in note 16 to the consolidated financial statements. CONTINGENT LIABILITIES See note 31 to the consolidated financial statements. Specifically, notices of reassessment from the Central Tax Office for Large Enterprises. As a consequence, the Company recognized in 2017 an income tax NOK 213.6million – USD 26,029 thousand. At December 31, 2019 the tax liability is estimated to USD 24,323 thousand (USD 24,549 thousand at December 31, 2018). The changes in estimates due to currency fluctuation. An estimated interest on the tax liability of USD 4,504 thousand was expensed in 2017. In 2019 USD 367 thousand has been expensed (USD 386 thousand in 2018). At December 31, 2019 accrued interest on tax liabilities is USD 4,938 thousand. Q P