Deutsche Post Annual Report 2008 - 34 Receivables and other assets

34 Receivables and other assets


€m
	2007	2008
Trade receivables	6,377	5,591
Prepaid expenses	1,038	676
Current derivatives	52	475
Deferred revenue	558	462
Current tax receivables	461	450
Income from cost absorption	83	71
Receivables from sales of assets	196	56
Creditors with debit balances	63	51
Receivables from insurance business	32	37
Receivables from Group companies	53	34
Receivables from employees	30	29
Rent receivables	17	25
Receivables from loss compensation (recourse claims)	19	17
Receivables from cash on delivery	18	15
Receivables from residential housing construction pools	14	13
Receivables from private postal agencies	7	13
Land rights	22	10
Miscellaneous other assets	766	690
Receivables and other assets	9,806	8,715

The decline in receivables and other assets mainly reflects the reclassification of the amounts relating to the Deutsche Postbank Group as assets held for sale in accordance with IFRS 5.

€341 million of the tax receivables (previous year: €317 million) relates to VAT, €43 million (previous year: €60 million) to customs duties and levies, and €66 million (previous year: €84 million) to other tax receivables. Miscellaneous other assets include a large number of individual items. Further information on derivatives can be found in Note 51.2.ff.