PT SAMPOERNA AGRO Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Nine Months Ended September 30, 2007 and 2006
Expressed in thousands of Rupiah, unless otherwise stated
31
14. TAXATION continued
e The reconciliation between income tax expense benefit, computed using the marginal tax rate of 30 from consolidated income loss before corporate income tax expense and corporate income
tax expense as shown in the consolidated statements of income is as follows:
2 0 0 7 2 0 0 6
Consolidated income loss before corporate income tax benefit expense
113,639,802 155,958,399
Estimated tax expense based on prevailing tax rate of 30
34,091,941 46,787,520
Effect on income taxed at statutory rates 87,500
87,500 Net permanent difference
at the maximum marginal tax rate 1,162,738
1,280,643
Corporate income tax expense benefit – net
32,841,703 45,419,377
f Deferred tax assets liabilities:
2 0 0 7 2 0 0 6
The Company: Tax loss carried forward
11,668,704 -
Provision for employee service entitlements 334,893
430,615 Accrued expense
117,545 117,545
Fixed assets 131,628
166,267
Net deferred tax assets, the Company 11,989,514
381,893
Subsidiaries: Provision for employee service entitlements
3,296,467 2,295,574
Tax losses carried forward 2,060,746
656,053 Provision for write down of Plasma
623,349 623,349
Accrued expense 62,426
62,425 Fixed assets
829,271 860,295
Net deferred tax assets - Subsidiaries
5,213,717 2,777,106
Deferred tax assets, net 17,203,231
3,158,999
Deferred tax assets in 2007 has accounted deferred tax liabilities of Sungai Rangit amounting to Rp326,505 as of December 31, 2006, which was consolidated starting from January 1, 2007.
The utilization of deferred tax assets recognized by the Group is dependent upon future taxable income in excess of income arising from the reversal of existing taxable temporary differences.
g In January 2007, the Company received tax assessment letters from the Tax Office, which approved to refund the Companys claim for corporate income tax at the amount of Rp3,420,782
from the total claim of Rp3,616,037. Out of the said approved amount, Rp195,255 was charged as part of Licences and permits in the General and administration expenses. From the approved
amount, Rp136,000 was transferred as current period’s prepaid income tax and Rp3,284,782 was already received.
PT SAMPOERNA AGRO Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Nine Months Ended September 30, 2007 and 2006
Expressed in thousands of Rupiah, unless otherwise stated
32
15. ACCRUED EXPENSES
